WHAT IS SECTION 179?

Section 179 is a tax code that allows businesses to deduct the full purchase price (from gross income) of qualifying equipment purchased or financed during the tax year.
The 2021 deduction limit for new and used equipment is set at $1,050,000. The equipment must be finance or purchased between January 1st, 2021 through December 31st, 2021.
All businesses that purchase, finance, and/or lease new or used business equipment during the 2021 tax year should qualify (assuming they spend less than $3,670,000)

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