Deduct the full purchase price, even on leased equipment.
Section 179 of the IRS tax code allows businesses to deduct the full purchase price (up to $1,040,000) of qualifying equipment purchased (or financed) during the tax year. When you buy a piece of equipment, you can deduct the FULL PURCHASE PRICE from your gross income.
It's an incentive to encourage businesses to buy equipment and invest in themselves. This makes a big difference for both large and small businesses.
Order your equipment early to avoid any delivery delays.
Contact your tax professional for details.