Section 179

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 purchase from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.

IMPORTANT: Equipment and software must be purchased or financed and in place by midnight December 31, 2022.