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About the Tax Law

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Section 179 Tax Law

At SCANAMED in Sebring, Florida, we operate under Section 179 Qualified Financing. Browse this page to get to know more about the Tax Law.

About the Tax Law

Updated: Dec 17, 2014

The Tax Extenders Bill (H.R. 5771) has been passed by the House on December 3, 2014 and was voted on and passed by the Senate on December 16, 2014. This retroactively expands the Section 179 deduction limits through December 31, 2014.

Important Note: Only this 2014 tax year will be covered by this measure. Therefore, it is a good business decision for many to buy/finance equipment immediately to make the December 31, 2014 cutoff for the write-off provisions. Repeat, this new provision does NOT cover tax year 2015, the law covers tax year 2014 only!

To obtain Section 179 Qualified Financing for your business, you must apply immediately to make the cut-off at midnight of December 31, 2014. Keep up with the Bill that reinstates the limit on Section 179 to $500,000 as well as reinstates 50% Bonus Depreciation: H.R. 5771: Tax Increase Prevention Act of 2014 (aka Tax Extenders Bill) via govtrack:

Technically, the bill is a one-year, retroactive extension of the tax breaks, even though it only lasts through the end of the month. This site will be updated to reflect these changes shortly.

The Section 179 calculator is already fully updated. 

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