Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and software purchased or financed during the tax year. This incentive is designed to encourage small and medium-sized businesses to invest in essential machinery and equipment, making it easier to deduct the entire purchase price from gross income in the year the equipment is placed into service.
Immediate Deduction: Unlike traditional capital expenditure deductions spread over multiple years, Section 179 allows you to deduct the entire cost of eligible equipment in the year it is placed into service.
Encourages Investment: This deduction promotes business growth by making it financially easier to invest in the machinery and equipment needed to stay competitive and efficient.
Applicable to New and Used Equipment: Both new and used equipment qualify, providing more flexibility in your purchasing options.
Absolutely! Almost every equipment item we provide qualifies under Section 179 as tangible property. These items are considered machinery and equipment purchased for use in a trade or business, meeting the criteria for this valuable deduction.
To take advantage of the Section 179 deduction, your equipment must:
Contact us to get a quote for our efficient storage solutions. Take advantage of the Section 179 deduction and invest in the equipment you need to enhance your business operations.
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