Steel Mills
June 18, 2014
HARDI Applauds House Passage of Small Business Tax Relief Act
Written by Sandy Williams
HVAC construction equipment won a victory in the passage of “America’s Small Business Tax Relief Act of 2014.” The House approved the bill that previously excluded HVAC equipment from qualified business deductions.
Under the amendments to the bill, business owners can expense up to $500,000 in new equipment and property, including HVAC equipment. The bill restores the 500,000 cap after it was reduced to $25,000 January 1, 2014. The cap is not only restored but would make it retroactive to January 1 and permanent.
