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What is Section 179?
Section 179 is a section of IRS tax code allows you to deduct the full purchase price of the equipment from your gross income. Section 179 was included in the Stimulus Bill to help give tax relief to business owners. If used correctly, it can effectively change the your tax liability ( It can help turn around a year in the black. ) You don’t want to let these types of opportunities go to waste. Section 179 isn’t guaranteed, every year the stimulus bill has to get re-approved in order for the tax code to apply.
Section 179 for 2019 allows up to $1,000,000 to be deducted, but it varies from year to year.