Politicians have a love affair going on with the high-tech industry.
Where Democrats and Republicans get partisan on traditional issues that impact the business community, there's collegial bipartisanship on technology issues. Rather than argue the obvious, small businesses stand to gain from the rash of new initiatives being pushed by the technology lobby. The tax code already recognizes this for computers, which a small business can immediately deduct when purchased, but software is inexplicably treated differently. This bill will fix that. Under current law, if a small business buys a computer and the software to go with it, the computer can be fully expensed in the year purchased, yet software must be amortized over 36 months.