What is Section 179?
Section 179 Tax Deduction offers businesses a great opportunity to maximize their purchasing power by allowing them to write off the full purchase price of qualifying equipment and software that's been purchased during the current tax year. No matter if you purchase equipment outright, finance it, or lease it, you can deduct the full purchase price from your reported gross income!
2019 DEDUCTION LIMIT
Good towards new and used equipment, as well as off-the-shelf software.
2019 SPENDING CAP ON EQUIPMENT PURCHASES
Maximum amount spent before the Section 179 Deduction begins to be reduced.
2019 BONUS DEPRECIATION
Taken after the spending cap is reached.
Act Now and Save
Almost anything you would buy that is connected to technology that helps your business be productive qualifies as a tax deduction. Most of what NeweggBusiness offers is covered and deductible, so do your diligence and leverage your savings.
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For further details about deduction limits, or inquiries about what qualifies, visit www.section179.org, or contact your tax preparer.