Ok, we just heard about all the tax increases coming if Joe Biden has his way and we've already covered the capital gains increase.
But one the the most LOVED deductions by American businesses is called the IRS Section 179 Deduction.
BASICALLY, it was designed for farms/businesses to write off capital purchases of equipment like SUV's and Trucks because most large vehicles fit the 6000 lb. + GVWR stipulation to take advantage of it.
So say if you're a self employed small business like real estate agents, flower shops, restaurants, EVEN a car website owner, you can qualify for it. And at the current rate you can spend one million dollars on this equipment.
We uncovered this way back and have written about it often hoping to help save readers money (always consult your financial/tax consultant before purchases).
Of course, Democrats hate this because they say it encourages purchases of gas guzzling vehicles.
So the BIG question is will JOE END it once and for all?
What say you spies? Are it's days NUMBERED under this administration? And do you/have you ever taken advantage of it and would it hurt your business if it went away?