Tiberi Introduces Bonus Depreciation Bill
This week Ways and Means Member Pat Tiberi (R-OH), one of our more vocal S-Corp champions, introduced legislation (H.R. 4196) to extend 100 percent bonus depreciation through the rest of this year. Bonus depreciation allows businesses of all sizes to immediately expense the cost of property purchased and placed into service. S-Corp Advisor Tom Nichols spoke of the advantages of expensing in his testimony before the Ways and Means hearing last week.
“Probably the most important of these proposals for most closely-held businesses would be the possibility of extending and/or expanding the option of expensing investments in capital equipment under, …