Small businesses wait for congressional action on tax breaks

Small businesses are waiting to see whether Congress will extend bonus depreciation and increase the size of the Section 179 deduction. Bonus depreciation has expired, while the Section 179 deduction has decreased to a maximum value of $25,000, down from $500,000. “If you talk to the typical small business out there, there’s a very high level of frustration,” certified public accountant Doug Bekker says. ABC News/The Associated Press (4/9)

Last Updated 08/10/2022

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