Here’s How Section 179 works:

Here’s How Section 179 works:

In the past, when businesses bought qualifying equipment, they would write it off gradually over time through depreciation. For example, if a company spent $50,000 on a machine, it could write off $10,000 per year for five years.

However, most business owners would prefer to write off the entire purchase price in the year they buy the equipment. Section 179 allows businesses to do just that, allowing them to write off the entire purchase price of qualifying equipment for the current tax year.