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On Dec. 18, Congress voted to reinstate the deduction limit to $500,000 under the Protecting Americans from Tax Hikes Act. Without the PATH Act, the deduction limit would have fallen to $25,000 — five percent of the amount offered in previous years.

The provision under the American Taxpayer Relief Act, meant to aid small and mid-size businesses, has been extended by Congress to include the 2014 tax year in a last-minute vote on Dec. 16.