• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Section 179 deductions: No sour grapes

by on
in Small Business Tax,Small Business Tax Deduction Strategies

The IRS reversed a long-standing ruling denying Section 179 deductions for the cost of planting vineyards and orchards. (IRS Office of Chief Counsel Memorandum No. 201234024) Some costs, with certain restrictions, are now eligible for Section 179 expensing.

Note: For tax years beginning in 2012, the Section 179 deduction maxes out at $139,000 and is reduced for taxpayers that put more than $560,000 of qualified assets into service.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/33613/section-179-deductions-no-sour-grapes "

Leave a Comment