Section 179 Expensing Increased to $125,000 for 2012

The Section 179 deduction limit for 2010 and 2011 is $500,000 with a $2 million overall property value limit.  This was scheduled to go down in 2012 to $25,000 for the deduction limit and $200,000 for the overall property value limit. Under the new tax laws passed in December 2010, the Section 179 deduction limit for 2012 will be $125,000 and the overall property value limit for 2012 will be $500,000.