Tax Gossip - Rumors on Section 179 Expensing and Bonus Depreciation
My colleague recently attended an event where a Congressman who is on the U.S. House of Representatives Ways and Means Committee said it is very likely that 179 expensing and bonus depreciation will be extended in early December before the session break or in early January and applied retroactively.
I hope so. We will see.
For now, I recommend you run year-end planning calculations under both scenarios - no extension of the rules and if they are extended.