Time is running out to save
December 18, 2018
Section 179 of the federal tax code lets businesses deduct 100% of the purchase price of their equipment, software and other qualifying assets in the year they are put into service instead of depreciating them over time.
The total purchase price of qualifying purchases is deducted from the business's gross income and that deduction can have a pretty dramatic effect on the amount of tax due.
Often times, businesses find that the tax deduction results in savings that total more than the first year’s payments.
SO JUST HOW MUCH DOES THE SECTION 179 DEDUCTION SAVE YOU?
Assuming you finance $25,000 of equipment or software for your business...
*Contact your tax adviser for current laws or visit www.irs.org