2014 Depreciation Rules Still Undecided
2014’s Section 179 depreciation limitation is presently $25,000 with reductions if more than $200,000 in assets are placed in service this year, but most industry folks are hopeful that these limitations will increase once the November elections are over. As the old Congress closes their legislative year, it’s expected that part of the agenda will include increasing those limits back to 2013 levels of $500,000 in deduction and a $2 million ceiling for a reduced deduction…these increased limits, if passed, will likely be retroactive to January 1, 2014.
