House to vote on full repeal of Estate Tax for first time in a decade The House has scheduled a floor vote tomorrow, April 15, for H.R. 1105, the Death Tax Repeal Act of 2015. This will be the first time in 10 years that Congress has considered legislation to fully
Category Archives: Legislation
Obama likely to veto rollback of NLRB union rules The House is poised to send President Barack Obama legislation rolling back a National Labor Relations Board rule intended to make it easier for workers to form unions, setting the stage for another presidential veto. “If the NLRB’s updated rules do,
Senators bring back online sales tax bill A bipartisan group of senators is taking another crack at online sales tax legislation. Senate Minority Whip Dick Durbin (D-Ill.) and Sens. Lamar Alexander (R-Tenn.), Mike Enzi (R-Wyo.) and Heidi Heitkamp (D-N.D.) rolled out the Marketplace Fairness Act on Tuesday, which would give
The Section 179 deduction level would be permanently set at $500,000 for small businesses under a bill passed by the House of Representatives Friday. Farmers are among the biggest users of the tax break, which helps smaller businesses immediately offset higher equipment costs on tax returns. Despite a veto threat
2014 Deduction Limit = $500,000. This is good on new and used equipment, as well as off-the-shelf software. This limit is only good for 2014, and the equipment must be financed/purchased and put into service by the end of the day, 12/31/2014. 2014 Limit on equipment purchases = $2,000,000. This
House renews tax breaks for one year The House on Wednesday passed a one-year renewal of more than 50 tax breaks that expired at the end of 2013. Passed 378-46, the measure would extend nearly all of the tax breaks until just the end of this year, at a cost of
NEDA signs on to the Broad Tax Extenders Coalition letter Northeast Equipment Dealers Association signed the Broad Tax Extenders Coalition letter. The final letters were sent to the House and Senate this morning. There was a total of 528 associations, non-profit groups, and coalitions that signed on to these letters.
The House voted 272-144 to revive Sec. 179 provisions that lapsed at the end of 2013. The new measure would have no expiration date. Current Sec. 179 Law Under current law, businesses can get immediate write-offs, without spreading deductions over several years, on purchases of up to $25,000. The benefit is
A crisis is looming; however, there’s little consensus on solutions. The House Republican leadership’s plan to permanently end Saturday postal deliveries and use the roughly $10 billion in savings to keep the highway program running until next spring has gained little public support, either on Capitol Hill or throughout industry.