American Taxpayer Relief Act Impact on Camps

Updated for 2015

Impact on Camps as Small Businesses

When the American Taxpayer Relief Act (ATRA) was signed into law by President Obama on January 2, 2013, it included a number of extensions of small businesses tax incentives that could be utilized by camps. Some of those tax incentives have been extended through 2015. The tax incentives include:

  • Section 179 Deduction. Permits small businesses to deduct the cost of certain new and used property placed in service for the year rather than depreciate those costs over time. The new law extends the maximum deduction to $200,000 for the 2015 tax year for companies with under $2 million in qualifying capital expenditures.
  • Work Opportunity Tax Credit. Extended for the 2015 tax year. The tax credit is for employers who hire military veterans or individuals from underserved communities that have faced barriers to employment.