Courtesy of Guest Blogger, Stanley J. Bushner, Shareholder, Buckno Lisicky & Company CPA's
The “Tax Increase Prevention Act of 2014” was signed
into law on December 19, 2014. This tax act extended many of
the tax laws that were set to expire in 2014, but none more
important for the small business than the 50% bonus depreciation
and the electing to expense (Sec. 179) rather than depreciate
tangible property purchased in 2014.