Bill > HR4501

This bill, the Small Business Growth and Investment Act of 2014, aims to adjust the limits on how much small businesses can immediately deduct, or "expense," for certain depreciable business assets in a given tax year, rather than depreciating them over time. Specifically, it proposes to increase the maximum amount a business can expense from $25,000 to $250,000 and adjust the phase-out threshold for this deduction from $200,000 to $800,000. These changes, which affect Section 179(b) of the Internal Revenue Code of 1986, are intended to encourage investment and growth for small businesses and would apply to tax years beginning after December 31, 2013.