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. Meaning, 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 is $1,040,000, which is a big advantage to those investing in equipment, even if the equipment is leased.

Bonus Depreciation

The current tax law also allows 100% “Bonus Depreciation” on equipment placed in service during the year for which you are filing. This 100% “Bonus Depreciation” can be taken on new or used equipment. Note, you should always consult your accountant or tax advisor prior to 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: (100% in 2020)
Normal 1st Year Depreciation:
Total First Year Deduction:
Cash Savings on your Purchase:
Lowered Cost of Equipment:(after Tax Savings)

Contact Us