Congress is one step closer to securing Section 179 small business expensing permanently with the passage of America’s Small Business Tax Relief Act of 2015. American Farm Bureau President Bob Stallman says America’s farmers and ranchers need reliable tax tools to help them stay competitive in spite of changing weather and fluctuating markets. Stallman says farmers and ranchers are continually upgrading and adapting to make their businesses more efficient and profitable – and with Section 179 – they can put money right back to work by purchasing new equipment and technology without having to take on unnecessary debts and expenses. Temporary fixes and extensions aren’t enough – Stallman says. Setting the maximum deduction at 500,000-dollars would give small businesses the certainty they need to invest in the future – he says.
Source: NAFB News Service