Haynes and Boone
  June 14, 2002 - Dallas, Texas

A Benefit for Small Businesses May Get Bigger
  by Paul Dickerson

Houston Business Journal Internal Revenue Code section 179 contains an important benefit for small businesses—the ability to completely expense the costs of certain assets. In general, businesses who purchase assets with a useful life of greater than one year are required to depreciate the cost of the property over a number of years. Section 179, however, allows a business to fully expense the cost of certain qualifying property in the year it is purchased. Thus, the business receives the full income tax benefit without having to distribute the benefit over time.



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