Video: Andrew Bray, Donnie Blake and Bob Kunst on Tax Relief for PCOs

An important business-related issue at Legislative Day was efforts to raise support for H.R.  636, America’s Small Business Tax Relief Act of 2015. H.R. 636 would amend the Internal Revenue Code to make permanent after 2014 the $500,000 allowance for the expensing of depreciable business property (section 179 property) and the $2 million threshold after which the amount of such allowance is reduced. Both the allowance and the threshold amount are indexed for inflation for taxable years beginning after 2015. Essentially, 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. In early 2015 the U.S. House of Representatives acted quickly to make the $500,000 deduction permanent and forego the yearly ambiguity concerning the deduction. The U.S. Senate has yet to pass a companion bill. Without further action, the 2015 section 179 business expense deduction will revert to $25,000. In the following video, PCT interviewed NPMA's Andrew Bray and PCOs Donnie Blake and Bob Kunst, about this issue.