ACCA Urges Senate To Help Small Businesses
ACCA national president Larry Taylor wrote Senator Max Baucus (D-MT) to encourage him to include two provisions for small business in the Senate’s economic stimulus legislation. Those provisions include increasing the allowance for direct expensing by companies to $50,000, and modifying depreciation rules to establish a 10-year life for leasehold improvements.
“Increasing the direct expensing allowance for equipment purchases would eliminate much of the burdensome recordkeeping involved in depreciating such equipment and act as a true stimulus,” Taylor stated.
He also said that shortening the current 39-year depreciation to 10 years would “result in long-term productivity growth and much-needed economic stimulus.” A shorter depreciation schedule for leasehold improvements would encourage the upgrading and installation of new hvacr systems in commercial facilities.
Publication date: 11/19/2001