Whether you are planning to buy or lease new or used equipment in 2018, the Section 179 tax deduction brings plenty to the table to help you save money. And it’s not super complicated to understand: You can deduct the full purchase price for buying or leasing a piece of new or used qualifying equipment – up to $1,000,000 (yes, that’s one million dollars!).
The Section 179 deduction is an incentive to encourage qualifying businesses to buy (or lease) equipment, thereby improving the economy, as well as themselves. Section 179 is used by businesses of all sizes, but small-and medium-sized companies are realizing much-needed tax relief.