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PMT BREAKING NEWS: The “Protecting Americans from Tax Hikes Act of 2015” (PATH Act) has been passed by both the House and Senate and will be signed into law (Sec 179 update)

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Breaking NEWS:

Dec 21, 2015 –   The “Protecting Americans from Tax Hikes Act of 2015” (PATH Act) has been passed by both the House and Senate and will be signed into law – expanding the Section 179 deduction limit to $500,000. Read the summary from the Ways and Means committee

Section 179 will be permanent at the $500,000 level. Businesses exceeding a total of $2 million of purchases in qualifying equipment will have the Section 179 deduction phase-out dollar-for-dollar and completely eliminated above $2.5 million. Additionally, the Section 179 cap will be indexed to inflation in $10,000 increments in future years.

50% Bonus Depreciation will be extended through 2019. Businesses of all sizes will be able to depreciate 50 percent of the cost of equipment acquired and put in service during 2015, 2016 and 2017. Then bonus depreciation will phase down to 40 percent in 2018 and 30 percent in 2019.

Learn more: (click here)

Ask your PMT Account manager to further explain how this can help your business? Sales 414-254-5150 / info@pmtmidwest.com

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