26 U. S. Code § 179 - LII Legal Information Institute A taxpayer may elect to treat the cost of any section 179 property as an expense which is not chargeable to capital account Any cost so treated shall be allowed as a deduction for the taxable year in which the section 179 property is placed in service
Section 179 Tax Savings | Section179. org Section 179 is an attractive tax deduction for small and medium businesses – and it’s easy to understand and utilize How much money can Section 179 save you in 2025? This calculator helps you estimate tax savings and plan equipment purchases
Publication 946 (2024), How To Depreciate Property This is the section 179 deduction You can elect the section 179 deduction instead of recovering the cost by taking depreciation deductions Estates and trusts cannot elect the section 179 deduction
Section 179: Help Your Business Save on Taxes | IRS. com Section 179 of the Internal Revenue Code is a tax deduction designed specifically to encourage small and medium-sized businesses to invest in themselves And yes, that includes you if you run a business and are looking for smart ways to reduce your taxable income
2025 Section 179 Deduction Guide | Section179. org What Is Section 179 (and Why Does It Matter in 2025)? Section 179 of the Internal Revenue Code empowers businesses to deduct the full purchase price of qualifying equipment and software in the same tax year they’re put into service