Section 179 is a tax code created to help businesses. Below you will find a few points about this deduction. For details, visit www.section179.org.
- By allowing businesses to deduct the full amount of the purchase price of equipment (up to certain limits), Section 179 is a fantastic incentive for businesses to purchase, finance and lease equipment this year.
- This deduction is aimed at general business equipment as well as off-the-shelf software. You can check the list of items that qualify at www.section179.org.
- Section 179 can greatly help your bottom line. By deducting the full cost, you lower the amount you pay for equipment and/or software substantially. These benefits can be further expanded if you choose to lease/finance your equipment and software.
- It is simple to use. You only need to buy or lease the equipment and use a special IRS form.
- The various Stimulus Acts over the past few years have included provisions for Section 179 and Bonus Depreciation, and greatly increased the limits on how much businesses could deduct. But the enhancements usually expire at the end of the year.
- There is simply no better time than now to take advantage of Section 179 and Bonus Depreciation. Why? Because it is a ‘Use-it-or-lose-it’ write off that ends December 31st.
Call us for information on updating your equipment with the assistance of this deduction: (561)969-1616 or email us at [email protected].