White House Proposes Increasing Section 179 Deduction in 2013 to $250,000

The White House just announced several initiatives today including increasing the Section 179 deduction for 2013 from the current $25,000 amount to $250,000.  This will require Congress to update the law to reflect this amount, so the change of this happening is not certain.  However, the mood of Congress and the President is to help small business and the Section 179 deduction is completely focused on small business.

We will keep you posted on this initiative.  Here is the White House Fact Sheet.