Section 179 is an IRS tax code section that allows business to deduct the full purchase price of qualifying equipment purchased or financed during the tax year.
This year, the IRS has increased the maximum deduction to $1,160,000. All equipment deducted must be purchased or financed and put into service by end of day 12/31/2023
Yes! Section 179 tax deductions and bonus depreciation can be deducted from new and used equipment purchased before year end.
Use the calculator below to see how much you can save on your 2023 equipment purchased. The free calculator allows you to see how much your tax liability can be reduced.