To make full estate tax repeal, small business expensing, and SECA tax deduction for health insurance permanent.


Opportunity for Family Farms and Small Businesses Act of 2009 - Makes permanent the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) that repeal the estate and generation skipping transfer taxes and that make reductions in the gift tax.

Amends the Internal Revenue Code to: (1) increase to $200,000 and make permanent the expensing allowance (i.e., a tax deduction in the current taxable year) for depreciable business assets; (2) increase the threshold for phaseout of such allowance to $800,000 (the cost basis of property placed in service); (3) allow an inflation adjustment to the expensing and threshold amounts after 2009; (4) make permanent the right of a taxpayer to revoke an election to expense business assets; (5) make permanent the inclusion of certain computer software as property eligible for expensing; and (6) allow self-employment health insurance costs as a deduction in determining net self-employment income.

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