IRS Tax Rule Section 179 allows businesses to write off the full purchase price of business equipment*
Financing your equipment means minimizing your out-of-pocket cash and maximizing your 2020 tax savings .
The deduction limit for Section 179 is $1,040,000. This means that if you buy (or finance) a piece of equipment, you can deduct the Full Purchase Price (up to $1,040,000) from your gross income for the year 2020. Deadline is 12/31/2020.
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