What is Section 179?
Section 179 allows a taxpayer to deduct/write off the full purchase price of certain equipment and/or eligible software acquired during the tax year, instead of requiring the equipment cost to be capitalized and depreciated over time.
This tax benefit expires on December 31, 2021.
How Does It Help You?
When you acquire equipment or eligible software, you usually have to write off portions of the value over time, as it depreciates.
Section 179 allows you to deduct 100% of the purchase price in the same year you buy the equipment.
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* The material provided is for information purposes only and is not meant to provide tax or financial advice. Please consult with your tax advisor. For the most up to date information, go to www.irs.gov.