Section 179 Deduction Limits – Did You Know?
If you are a business owner, the new tax law not only retained the section 179 deduction for certain types of equipment and other business purchases, but the limit was also expanded to $1 million for 2018. This rule allows the amount of these purchases to be expensed right away versus depreciated over a number of years. This can be a significant tax benefit for a company.
In order to qualify, the equipment or software purchase must be used for business use more than 50% of the time.