Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

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Posted by taxguru on October 11, 2004

Q:

I heard that the section 179 maximum was being lowered right now by vote in Congress. Is that true and if so, how much?

Thanks,



A:

The overall limit of $102,000 for the Section 179 deduction isn’t being changed.

What is looking like a possible change is the amount of that $102,000 that can be used for vehicles weighing between 6,000 and 14,000 pounds. That would be capped at $25,000 per year if this current bill makes it into law.

The remaining $77,000 would be available for other kinds of business equipment, including vehicles weighing more than 14,000 pounds.

Stay tuned to TaxGuru.net for the latest on this topic.

Kerry Kerstetter

This entry was posted on October 11, 2004 at 3:41 PM and is filed under 179. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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