Essentially, 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, you can deduct the FULL PURCHASE PRICE from your gross income.
It’s the end of the year. Businesses are busily reviewing their bottom line and – perhaps – scanning every corner of their organization for any sort of competitive boost as 2020 looms around the corner.
Small business owners or managers may not be aware of an incentive that could forge a huge technology and productivity boost in their immediate future: Section 179 Deduction of the IRS Tax Code.