NPMA Advocates Congress to Raise Section 179 Business Property Deduction

FAIRFAX, Va. — Without Congressional action, the Section 179 deduction level will remain at the pre-2007 level of only $25,000 rather than the previous $500,000. NPMA is encouraging members to send a note to their Congressional representative.

 

Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment from gross income from the year the equipment was purchased, rather than writing off the depreciation of the equipment over several years. It's an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. Qualifying property includes equipment (machines, etc.) purchased for business use, tangible personal property used in business, air conditioning and heating units, business vehicles with a gross vehicle weight in excess of 6,000 lbs., computers, software, office equipment and office furniture. 

 

The Section 179 deduction is widely used by our industry and this has been an important issue for the pest control industry. It was highlighted at Legislative Day this past March. NPMA is continuing to push this issue with Congressional offices and is working with other industries on this very important tax benefit. NPMA encourages members to take a brief moment to send their Congressional representatives a note urging them to act to raise the Section 179 deduction level. 

 

Click here to send a message to your representative.