Section 179 Tax Deduction MADE EASY!
Taxes aren't always the easiest thing to understand - here are the basics to take advantage of this year's $1 MILLION deduction ! We visited section179.org and got the basics to help you take advantage of huge savings in equipment costs. ACT FAST- ends soon! What is the Section 179 Deduction? Section 179 is a tax code created to help businesses. Allows businesses to deduct the full amount of the purchase price of equipment (up to certain limits). Section 179 is valid on most types of equipment (including welders). Qualifying List Section 179 is simple : Purchase equipment, then submit IRS form with your tax return. Section 179 must be used by the end of the year. To qualify, the equipment must have been purchased (or leased/financed) and played into service by midnight, December 31st. Section 179 is a USE-IT or LOSE-IT write-off. 2018 Section 179 Tax Deduction Limit is at an all-time high this year: $1 MILLION Businesses can deduct