The Senate passed the Small Business Jobs Act of 2010. The House is set to vote on the bill where its expected to pass.
The following provision is included in the Bill…
1. One-year extension of the 50-percent bonus depreciation provision for qualified property placed in service during 2010.
2. Increase Section 179 expense deduction for 2010 and 2011 to $500,000, combined with an increase in the phase out threshold to $2 million.
Will keep you posted on the developments….