For the 2019 tax year, you can deduct the full purchase price of equipment from your gross income up to $1,000,000. This makes now the perfect time to invest in new capital equipment!
Section 179 of the IRS tax code encourages businesses to invest in equipment by allowing them to expense (deduct) the full purchase price of the equipment from their gross income during the current tax year. Businesses can take an immediate tax deduction in the current year instead of depreciating a portion of the equipment cost over a number of years which can provide substantial tax savings.
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