IRS Section 179 Deductions
IRS Section 179 Deductions
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It's an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
All businesses that purchase, finance, and/or lease less than $2,000,000 in new or used business equipment during tax year 2016 should qualify for the Section 179 Deduction.
To qualify for the Section 179 Deduction, the equipment must be placed into service between January 1, 2016 and December 31, 2016.
All businesses that purchase, finance, and/or lease less than $2,000,000 in new or used business equipment during tax year 2016 should qualify for the Section 179 Deduction.
To qualify for the Section 179 Deduction, the equipment must be placed into service between January 1, 2016 and December 31, 2016.
