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April 14, 2014
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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