Section 179 Deduction
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Property That Qualifies for Section 179
Property That Qualifies for Section 179

Section 179 Qualifying Property

Section 179 was designed with businesses in mind. That's why almost all types of "business equipment" qualify for the Section 179 deduction.

All businesses need equipment on an ongoing basis, be it machinery, computers, software, office furniture, vehicles, or other tangible goods. It's very likely that your business has purchased many of these goods during the past year, and will do so again and again. Section 179 is designed to make purchasing that equipment during this calendar year financially attractive.

Material goods that generally qualify for the Section 179 Deduction

Please keep in mind that to qualify for the Section 179 Deduction, the below equipment must be purchased and put into use between January 1, 2009 and December 31, 2009.

  • Equipment (machines, etc) purchased for business use
  • Tangible personal property used in business
  • Business Vehicles with a gross vehicle weight in excess of 6,000 lbs (Section 179 vehicle deductions)
  • Computers
  • Computer Software (off the shelf)
  • Office Furniture
  • Office Equipment
  • Property attached to your building that is not a structural component of the building (i.e.: a printing press, large manufacturing tools and equipment)
  • Partial Business Use (equipment that is purchased for business use and personal use - generally, your deduction will be based on the percentage of time you use the equipment for business purposes.)

Act Now

Section 179 can change yearly without notice, so it benefits you to take advantage of this generous tax code while it's available. Section 179 offers small businesses a great opportunity to maximize their purchasing power. In addition, the Economic Stimulus Act of 2008 and Recovery Act of 2009 has provided the small business owner with generous new (and higher) deduction limits. Most of the equipment your business will purchase or lease qualifies for the deduction, so do your homework and verify that your company is leveraging the Section 179 Deduction this year.

Section 179 .org

Section 179.org

 

This website was designed to answer your questions regarding the Section 179 Deduction, and to explain the impact the Economic Stimulus Act of 2008 (H.R. 5140) as well as the American Recovery and Reinvestment Act of 2009 has had on Section 179. The information on this site will clearly explain the Section 179 Deduction in plain terms; will go over what property qualifies under Section 179 for the deduction; and will explore the myriad of ways the Section 179 deduction can impact your bottom line. In addition, there are IRS forms, and also tools for you to use, like the free Section 179 Deduction calculator.

 

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