HARDI is cheering committee passage of a bill that amends the U.S. tax code and repeals an exclusion of HVAC construction equipment from qualified business deductions.
Called “America’s Small Business Tax Relief Act of 2014, the legislation, introduced by U.S. Rep. Patrick Tiberi (R-Ohio) and Rep. Ron Kind (D-Wis.), HARDI says it would return deduction levels to those from 2010-2013 tax years, permitting HVAC sales business owners to expense up to $500,000 in new HVAC sales equipment and property.