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 QUALIFIED REAL PROPERTY FOR SECTION 179 EXPENSING - PART 2

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MonroeCPA
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PostSubject: QUALIFIED REAL PROPERTY FOR SECTION 179 EXPENSING - PART 2   12/14/2010, 02:10

Tuesday, December 14, 2010

As per Title II, entitled 'Tax Provisions', of Subtitle A, entitled 'Small Business Relief', Part II, entitled 'Encouraging Investment', Section 2021, entitled 'Increased Expensing Limitations for 2010 and for 2011; Certain Real Property Treated as Section 179 Property', of the federal Small Business Jobs Act of 2010, there is a maximum limitation amount of the aggregate cost of qualified real property that can be expensed as per Section 179 of the Internal Revenue Code of 1986.

As per subsection (b) of Section 2021, paragraph (3), the maximum cost of qualified real property for each year, for 2010 and for 2011, in which section 179 expensing is considered, in the year purchased, is $ 250,000.00.

Please note that Title II, and Title II only, of the federal Small Business Jobs Act of 2010, is also known as the CREATING Small Business Jobs Act of 2010.
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QUALIFIED REAL PROPERTY FOR SECTION 179 EXPENSING - PART 2
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