Fast Facts about Section 179

This page gives you a quick "big picture" overview of Section 179 and the impact of the Stimulus Act of 2008 and extension from the Reinvestment Act of 2009. The individual pages for each aspect go a little deeper into the details, but this page serves nicely as a quick primer.

• Section 179 is a tax code created to help businesses - By allowing businesses to deduct the full amount of the purchase price of equipment (up to certain limits), Section 179 is a fantastic incentive for businesses to purchase or lease equipment this year
• Section 179 is valid on most types of equipment - There is little sense in allowing a deduction on obscure equipment, so Section 179 is aimed at general business equipment. If you use it in your business, it probably qualifies. See a list of qualifying Section 179 equipment
• Section 179 can greatly help your bottom line - By deducting the full cost, you lower the amount you pay for equipment substantially. And these benefits can be further expanded if you choose to lease or finance your equipment
• Section 179 is simple to use - All you need to do is buy (or lease) the equipment, and use a special IRS form. That's it. Details here
• Section 179 was enhanced for 2008 and 2009 - The Economic Stimulus Act of 2008 included special provisions for Section 179, and greatly increased the limits on how much businesses can deduct. The American Recovery and Reinvestment Act of 2009 extended those provisions until this year's end. There is simply no better time than now to take advantage of Section 179