What is Section 179?
This means that if you buy or lease a piece of qualified equipment you can deduct the full purchase price from your gross income in the same tax year which most business owners would prefer. This incentive was created by the U.S. Government to encourage businesses to purchase equipment and help stimulate the economy.
Tax year example at a glance*:
* please note that this is a simplified overview. For further details consult with your accounting professional or IRS tax codes.