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Deduction Calculator

Home / Deduction Calculator

 

Section 179 Calculator

Are you considering whether or not to purchase or lease equipment in the current tax year? This Section 179 Deduction Calculator for 2023 may very well help in your decision, as Section 179 will save your company a lot of money (the deduction is at a robust $1,160,000, and will stay there for the entirety of 2023.)

 

How much money can Section 179 save you in 2023?

The Section 179 Deduction has a real impact on your equipment costs. Here’s an easy to use calculator that will help you estimate your tax savings. Simply enter in the purchase price of your equipment and/or software, and let the calculator take care of the rest.

Please note that this Section 179 Calculator fully reflects the current Section 179 limits and any and all amendments / bonus depreciation.


2023 Section 179
Tax Deduction CalculatorTM





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The calculator presents a potential tax scenario based on typical assumptions that may not apply to your business. This page and calculator are not tax advice. The indicated tax treatment applies only to transactions deemed to reflect a purchase of the equipment or a capitalized lease purchase transaction. Please consult your tax advisor to determine the tax ramifications of acquiring equipment or software for your business.

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Example Calculation Using the Section 179 Calculator

Using a $75,000 equipment cost for a sample calculation shows how taking advantage of the Section 179 Deduction can significantly lower the true cost of the equipment purchased, financed or leased. In our example, $75,000 in equipment purchased has a true cost of $48,750. That’s $26,250 saved. Would you like an extra “25 grand-plus” this year on equipment you needed anyway?

In order to qualify for the Section 179 Deduction, the equipment must be purchased, financed or leased equipment and put into service by December 31 of this year!




  ABOUT THIS SITE

This website was designed to answer your questions regarding the Section 179 Tax Deduction, and to explain the impact the various Stimulus Acts have 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 tax forms and also tools for you to use, such as the free Section 179 Deduction Calculator currently updated for the 2023 tax year.    

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ARCHIVED REFERENCES

  • Overview of Depreciation
  • Economic Stimulus Act of 2008
  • American Recovery & Reinvestment Act of 2009
  • HIRE Act of 2010
  • Small Business Jobs Act of 2010
  • Tax Relief Act of 2010

SECTION 179 DEADLINE

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Section179.Org Section179.Org
  • Section179 Explained
    • Section179 Current Year
    • Qualifying Property
    • Non-Qualifying Property
    • Vehicles and Section 179
    • Software and Section 179
    • Electing the Deduction
    • Section179 Simplified
    • Section 179 Amendments
    • Previous Years
    • Section179 FAQs
  • Section179 Calculator
  • Qualified Financing
  • Equipment Sellers
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