Small Business Expensing Improvement Act of 2002
Last action on Apr 17, 2002Referred to the House Committee on Ways and Means.
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Summary
Small Business Expensing Improvement Act of 2002 - Amends the Internal Revenue Code with respect to the expensing of depreciable business assets (section 179) to: (1) increase the maximum amount which may be expensed to $40,000 (eliminating the current phase-in of annual increases) and the phase-out threshold to $325,000; and (2) make certain computer software and property used for lodging eligible for section 179 expensing.
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