Senate Leader Files Depreciation Bill

Senator John Thune, the #3 ranking republican in the US Senate this week filed the Investment in New Ventures and Economic Success Today (INVEST) Act, which will simplify depreciation rules and reform key parts of the tax code allowing business owners to more quickly recover investment costs and other business expenses. The INVEST Act would…

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Congress Tees Up Critical Bill

Although it hasn’t made it to the President’s desk just yet, an important tax relief & spending authorization deal appears to have been reached in Congress this week and seemingly contains a few small but important Christmas gifts for small business if the deal holds and the bills signed into law by the President.  Three…

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US House Passes Permanent Section 179 Expensing Bill

It was one of the so-called “tax extenders” that have been allowed to expire in each of the past two years, only to be retroactively reinstated.  At long last, the US House has moved the issue forward again and passed legislation that will make the accelerated and bonus depreciation deductions permanent.  The legislation, known as…

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