Sec. 179 expensing – You may qualify for extra expense deductions

Description

Abstract: Tax law changes passed last year opened the doors for some major tax savings on 2011 business purchases. Under the temporary modifications to Section 179 expensing rules, one might be able to deduct — rather than depreciate over a number of years — costs related to qualified leasehold-improvement, restaurant and retail-improvement property. The article explains what’s included in these three forms of property, along with the deduction amounts that apply.