Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year, UP TO $1,000,000 IN YEAR ONE with a ”total equipment purchased for the year” threshold of $2,500,000.
If your business buys or leases a piece of qualifying equipment you can deduct the full purchase price from your gross income.
Equipment & Software are eligible
100% deduction up to $1,000,000 & $2,000,000 to $2,500,000
Equipment purchase limit of $2,000,000
The U.S. government created Section 179 to encourage businesses to spend money on equipment and software. This is ideal for small and medium businesses looking for a tax advantage.