Congress Recently Extended IRC §179 to Include Deductions for Real Property but only for 2010 and 2011
Posted December 2, 2010 by in Articles & Publications, Real Estate PublicationsUsually when you think of §179 of the Internal Revenue Code, you think of deductions available to businesses for depreciable, tangible "personal" property such as equipment, vehicles and computers. However, Congress has given a gift in the Small Business Jobs Act, signed September 27, 2010, by extending the deductions to include up to $250,000 of Qualified Real Property.