Tax Planning Strategies
Planning to upgrade your brewery equipment in 2013? You’ll be happy to know Congress revised Section 179 Expensing as part of the American Taxpayer Relief Act (ATRA).
In 2012, the maximum expensing election was $139,000. Thanks to the ATRA, the expensing election has been retroactively changed to $500,000 for 2012 and 2013. In 2014, that amount reverts to $25,000. Keep in mind, however, that to take advantage of Section 179 Expensing you MUST have taxable income.
Questions about Section 179 Expensing? Contact the tax professionals at the Brewers Professional Alliance.