what is the maximum Section 179 deduction for tax year 2019
Ans:
Section 179 of the IRS tax code allows business entity to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year.
Which means that if business entity has buy (or lease) a piece of qualifying equipment, it can deduct the Full Purchase Price from their gross income.
Maximum Limit For 2019:
Deduction Limit | $10,00,000 |
Spending Cap On Equipment Purchase | $25,00,000 |
Bonus Depreciation Limit | 100% |
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