Small Business Expensing Act of 2015
This bill amends the Internal Revenue Code, with respect to the taxpayer election to expense depreciable business property (section 179 property), to: (1) increase to $1 million the expensing allowance for such property, (2) increase to $2.5 million the threshold amount of such property after which the amount of the expensing allowance is reduced, (3) grant a permanent right to revoke an expensing election, and (4) make such increased allowance permanent after 2014.
The allowance is also made permanent for computer software and for qualified real property (i.e., qualified leasehold improvement property, restaurant property, and retail improvement property).