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A permanent solution to Section 179?

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in Small Business Tax

The maximum Section 179 deduction allowance of $500,000 expired at the end of 2014. For tax years beginning in 2015, the maximum deduction will be only $25,000 unless Congress takes action.

Now the House has passed a bill making the $500,000 allowance that has applied for the past few years permanent. The president supports the measure, but he would require cutbacks in other business tax breaks to pay for it.

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