Tax Tips from The Bookkeepers
Section 179 Expense:
The maximum limit has been increased to $500,000. There are limitations to the amount of equipment that may be
purchased during the year. The phase out is $2,000,000 increased from $800,000 in 2009.
The definition of qualifying property has been expanded to include qualified real property, which includes
qualified leasehold improvement property, qualified restaurant property and qualified retail improvement property.
This qualified property category is limited to a maximum of $250,000 rather than $800,000.
