MENU
SEARCHSection 179 allows a taxpayer to deduct the cost of certain types of property on their income taxes. The petition aims to reinstate the Section 179 deduction at $500,000 for 2015. Currently, it has fallen to $25,000.
A petition circulated by a finance and accounting group seeks to restore a higher deduction that businesses can take on income taxes.
The Section179.org petition requests that Congress reinstate the Section 179 deduction at $500,000. It was raised to $500,000 during the last two weeks of 2014, but then fell to $25,000 for 2015.
General Motors is one of many businesses that support this petition. The petition signatures urge Congress to restore the Section 179 $500,000 deduction as early as possible. Section 179 allows businesses to deduct the cost of certain new and used property, including certain motor vehicles placed into service within the tax year.
Addressed to Sens. Mitch McConnell and Harry Reid and Congressmen John Boehner and Nancy Pelosi, the petition argues that reinstating the deduction to $500,000 can increase capital spending, and therefore increase economic growth and job creation, according to Section179.org.
Businesses are encouraged to use this link to sign the petition.
Section179.org was formed as a way to publicize Section 179 information to small business owners.
AI-powered inspections are transforming last-mile fleets by replacing manual checks with highly accurate automated scans that detect defects in seconds. By giving fleet operations visibility into the daily condition of their vehicles, you can identify trends over the vehicle’s lifecycle that enable improved procurement decisions, route management, driver training and accountability.
Read More →
Still managing your motor pool with spreadsheets and manual approvals? Loyola University replaced outdated processes with automated fleet management, eliminating overtime and saving up to $50,000 annually. See how they did it.
Read More →
48% of field service leaders are investing in AI to manage customer communication and self-service. Get the latest on how fleets are using AI and thinking about the future.
Read More →
There are five ways seat belts protect occupants from injuries, according to the Tennessee Department of Safety and Homeland Security.
Read More →
What does AI mean for fleets? Get the answer — and learn other top tech trends.
Read More →
Check out how small fleets and independent drivers power Wreaths Across America each December and why their impact matters more than ever.
Read More →
A new VMS survey shows small fleet managers are stretched thin, with most handling operations solo and eager to adopt digital tools for relief.
Read More →
This video features a reminder from the Connecticut Department of Transportation (DOT) and the Connecticut Police Chiefs Association, urging drivers to prioritize safety this Halloween.
Read More →
VMS’s new Co-CEO, David Prusinski, shares how an AI-first approach will give small fleets and repair shops the tools to compete like big players.
Read More →
Three fleets share best practices to prep vehicles for winter and prevent downtime when the cold sets in.
Read More →
