Section 179

Equipment purchased in 2019 may qualify for tax deduction

For businesses purchasing equipment in 2019, the Section 179 deduction is easy to apply. It gives businesses an incentive to invest in equipment and software to boost efficiency, lift productive capacity, expand products and services, and grow their revenue.

Section 179 Tax Deduction

Tax deduction limit is $1 million

  • Most tangible business equipment qualifies.
  • Equipment must be purchased and put into use between Jan. 1 and Dec. 31 of the tax year.
  • You can take full advantage of the deduction when leasing equipment.
  • Submit IRS Form 4562 with your tax filing to claim the deduction.

Section 179 Resources

Section 179 blogs

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Section 179 autocomplete interview

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▸ Google Autocomplete Interview: Section 179 Common Questions

 

Calculator

Estimate your tax savings with our Section 179 calculator.

 

Quiz

Take our quiz to test your understanding of the Section 179 tax deduction.

 

Frequently Asked Questions

These FAQs will help small business owners understand how to use the deduction.

 

Contact your tax advisor to verify tax or accounting issues or visit irs.gov for details.

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