NFIB Victories in Michigan!
Thanks to NFIB persistence and action from small business
owners like you, a permanent small business expensing limit of $500,000 was passed
by Congress and signed into law in the waning days of the 2015 session. The
change made to Section 179 of the IRS Tax Code, allows small businesses to
expense up to $500,000 per year for big investments, such as machinery,
equipment, technology and other capital upgrades. Without Congressional
action the provision would have expired at the end of December, as it has every
year for the past several years, and small businesses would only be allowed to
expense $25,000. While Congress has voted consistently to extend it, the
annual last minute waiting game has played havoc on small business financial
planning and investment decisions.