During the campaign, Barack Obama promised to extend a tax break for small businesses to give them a boost during the recession. The tax change raised the expensing limit — the amount that small companies can claim as their business expenses for investments.
A sharp-eyed reader brought to our attention a tiny provision in the American Recovery and Reinvestment Act, the economic stimulus package, that did exactly that. Section 1202 of the stimulus legislation raised the limit to $250,000. A May 2009 memo from the Internal Revenue Service confirms the change.
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← Back to Raise the small business investment expensing limit to $250,000 through the end of 2009
Stimulus raised the expensing limit
Our Sources
U.S. Government Printing Office, the American Recovery and Reinvestment Act of 2009 , Section 1202
Internal Revenue Service, Business Provisions of the American Recovery and Reinvestment Act of 2009 , May 2009