I’ve beena CPA for nearly 40 years. They, whether Congress of President, have always messed around with Section 179.
The original tax code as enacted way back when, had one sentence:”Income from whatever source derived, shall be taxed.”
From a few simple words, easily understood by most, a blankety ***** complex, unintelligible, unreadable, and probably never has been read by any one person, cluster**** has originated.
Congress, please eliminate the current tax code and go to a gross receipts tax. Or take time out of your busy day, and read the mess you’ve created!
Yes but what is unique about this messing, it seems to be ruffling some feathers, am I all wrong here, or is this going to grind small business to a potential halt in paperwork, just like the "1099" compliance > $600 in Obamacare would and was rescinded because it was so Erroneous, even Obama had to remove it...
That, or a National Sales Tax, will never happen. The gov't would be giving up too much power...