the section 179 deduction

NEWS ALERT

Oct 10, 2011 Important 4th quarter tax planning implications. Both the 'Tax Relief Act of 2010' as well as the 'Jobs Act of 2010' that passed in late 2010 affected Section 179 in a positive way for this 2011 tax year. The newest changes are as follows:

The Section 179 Deduction limit increased to $500,000. The total amount of equipment that can be purchased increased to $2 million. This includes most new and used capital equipment, and also includes certain software.

“Bonus Depreciation” increased to 100% on qualified assets. However, this can be taken on new equipment only.

When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation – unless the business has no taxable profit in 2011.

Also, many businesses find Section 179 Qualified Financing to be an attractive option in 2011.

Your Section 179 Deduction Questions Answered

Welcome to Section179.Org, your definitive resource for all things Section 179. We've brought together a large amount of information regarding Section 179, and clearly and honestly discuss the various aspects of IRS §179 in plain language - this will allow you to make the best financial decisions possible for your company.

Section 179 can be extremely profitable to you, so it is to your benefit to learn as much as possible. To begin, you probably have a lot of questions regarding Section 179. Questions like:

We’ll answer all of these questions, and make certain that you come away with all the knowledge you need to make smart business decisions in this 2011 tax year regarding equipment and/or software purchasing and Section 179 -- because, truth be told, if you’ve been thinking about buying or leasing new equipment and/or software...

2011 is the Year to Do It!

Due to the extension of Section 179 under the 'HIRE Act of 2010' - the enhanced limits under the 'Jobs Act of 2010' - and the recently enacted 100% Bonus Depreciation under the 'Tax Relief Act of 2010' - you can basically write-off 100% of all the equipment and software your business needs to buy or finance this year!

Free Tools that Make Calculating Section 179 Deductions Simple

Section 179 is really very simple – you buy or lease qualifying equipment and/or software, and then take a full tax deduction on it this year (also, there are a few other things, which we’ll go over, but in a nutshell, that’s the idea). To give you an estimate of how much money you can save, here's a Section 179 Deduction Calculator to make computing Section 179 deductions simple, and we’ve also detailed the changes in Section 179 due to the various Stimulus Acts -- that have extended and further enhanced the Section 179 and Bonus Depreciation limits.

Successful businesses take advantage of legal tax incentives to help lower their operating costs. The Section 179 Deduction is a tax incentive that is easy to use, and gives businesses an incentive to invest in themselves by adding capital equipment. In short, taking advantage of the Section 179 Deduction will help your business keep more capital, while also getting needed equipment, vehicles, and software.