Commercial & Fleet Department

What is the Section 179 Deduction

Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It's an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.

Here's How it Works

In years past, when your business bought qualifying equipment, it typically wrote it off a little at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example).Now, while it's true that this is better than no write-off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it.And that's exactly what Section 179 does - it allows your business to write off the entire purchase price of qualifying equipment for the current tax year.

Check out the official government information site at: 179 Tax Deductions for more information!

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    308 3rd St.
    St Marys, WV 26170

    • Sales: (304) 684-9625
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