Bill > HR4457

This bill, the America's Small Business Tax Relief Act of 2014, makes permanent several key tax provisions for small businesses related to the immediate deduction of certain business expenses, known as "expensing." Specifically, it permanently sets the maximum amount a business can expense at $500,000, and the threshold at which this allowance begins to decrease at $2,000,000. It also makes permanent the ability to expense computer software and certain improvements to leased property, restaurants, and retail spaces, and removes air conditioning and heating units from the list of items that cannot be expensed. Furthermore, for tax years after 2014, the dollar amounts for expensing will be adjusted for inflation, and the bill explicitly states that the budgetary impact of these changes will not be counted on any PAYGO (Pay-As-You-Go) scorecard, which is a system used to track government spending and revenue to ensure it doesn't increase the national deficit.