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 by the end of 2021, you can deduct the FULL PURCHASE PRICE from your gross income.
Did you know one of the most popular uses of the Section 179 deduction is for vehicles? Most people think the Section 179 deduction is some mysterious or complicated tax code. It really isn’t; click here to learn more – your business may be eligible!