Take Advantage of Section 179 When You Purchase New or Used Equipment
What is the Section 179 Deduction
Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment (new and used) 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. Section 179 is an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
Doggett is not offering tax advice. We strongly recommend that you consult with your tax advisor regarding how these tax-saving opportunities may apply in your situation.