The National Directory of Certified Public Accountants

Ask A CPA - Tax Law Highlights - 2012

Section 179 Expensing - 2012

For a tax year beginning in 2012, the Code Sec.179 expensing election which was supposed to have been reduced to $139,000 was increased under the American Tax Relief Act of 2012. The new law restores the 2011 limits of $500,000 as a maximum deduction with a $2 million threshold through 2013

If you need professional help with "Tax Law Highlights - 2012" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.