Section 179 Info

Promoting business growth

Section 179 Info

The Section 179 Tax Deduction allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. This means if you buy (or lease) a piece of qualifying equipment, you can deduct 100% of the purchase price from your gross income.

Write Off

Currently, the Section 179 Deduction limit is $1,220,000, which provides a significant advantage to those investing in equipment, even if the equipment is leased.

Bonus Depreciation

The current tax law also allows 60% “Bonus Depreciation” on equipment placed in service during the year for which you are filing. This 60% “Bonus Depreciation” can be taken on both new and used equipment. It’s important to note that you should always consult your accountant or tax advisor before making any purchase based on tax consequences.

*The information provided should not be considered tax advice. Please consult your tax advisor for more information.

Tax Savings Calculator

Enter Cost of Equipment Here
Assuming a tax bracket of:
Section 179 Deduction:
Bonus Depreciation Deduction: (60% in 2024)
Normal 1st Year Depreciation:
Total First Year Deduction:
Cash Savings on your Purchase:
Lowered Cost of Equipment:(after Tax Savings)

Contact Us