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Ask A CPA - Expiring Tax Provisions

2013 Tax Provisions Due To Expire As Of November 2013 - Section 179 Deduction

Businesses can expense the entire cost of equipment in the year of purchase under Section 179, rather than spreading out the cost over multiple years using regular depreciation. For 2013, businesses can expense up to $500,000 using Section 179. For 2014, the limit will be $25,000.

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