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Section 179 Deduction

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1. Preserves Cash Flow
2. Enables Access to Better Equipment
3. Tax Advantages
4. Flexible Terms

Section 179 deduction is an IRS tax code which allows businesses that qualify to deduct the full purchase price of equipment or software that was purchased or financed during the Tax Year. 

There are specific limits, equipment and businesses that can qualify for the Section 179 Deduction.

How does Section 179 Work?

Businesses that purchase, finance or lease qualifying equipment have the opportunity to write off the entire equipment purchase from the current tax year through Section 179.

Limits

The limits for the Section 179 Deduction change every year. Here are the limits based on 2020:

Who Qualifies for Section 179?

Many businesses can qualify for the Section 179 Deduction. As long as the business purchases, finances, or leases the new or used equipment during the 2020 tax year, then they should qualify for the Section 179 Deduction. 

The equipment must also be placed into service during the 2020 tax year. 

Deduction Calculator

To calculate how much money you will save in 2020, click the button below to take you to the Tax Deduction Calculator! 

 Deduction Calculator