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April 14, 2014

Small businesses in limbo on tax breaks

  • Bill French of W.L. French Excavating has stopped buying equipment like bulldozers until he knows how big his tax deductions will be.
  • By JOYCE M. ROSENBERG
    AP Business Writer

    NEW YORK — Small businesses are in limbo as they wait for Congress to make decisions that could save them a lot of money.

    Bills in Congress would extend tax deductions widely used by small businesses making equipment or property purchases. One, known as the Section 179 deduction, has shrunk to a maximum $25,000 this year from $500,000 in 2013. Another, called bonus depreciation, expired at the end of last year.


     
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