What is IRS Section 179?


Tax Savings designed for small- & medium-size businesses

Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year, up to $1,000,000. If your business buys or leases a piece of qualifying equipment, you can deduct the full purchase price from your gross income. The U.S. government created Section 179 to encourage businesses to spend money on equipment. If you would like to see your possible savings, click here for our 179 calculator.

IMPORTANT:

  • Equipment and Software are both eligible
  • 100% deduction up to $1,000,000
  • Equipment purchase limit of $2,500,000


Take it a step further

By using Section 179 in conjunction with the LCA 90-day Deferred program, your customers will be able to take the tax deduction this year and push the budget expense until next quarter. IRS Section 179 and the 90-day Deferred program are an invaluable combination, and your customers need to know about it.
 


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Lease Corporation of America is not an authorized tax advisor. You must consult your tax advisor, visit www.irs.gov or contact the IRS helpline at 800.829.4933 to confirm if you qualify for this tax benefit.



We have included a couple of useful documents that you can download for your files. Click on a thumbnail below to download that particular document.

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179 Overview

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