Deduct The Cost of Software and Equipment Through Section 179

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Tom T

Wouldn’t it be great if you could deduct the cost of software and office equipment? Section 179 of the IRS tax code just may be your meal ticket. It was created by the IRS to encourage businesses, especially small businesses like yours to invest in their company with purchases that can directly impact business operations.

What To Know, How To Apply

We have put together a guide that outlines much of what you need to know to get started and to determine if you may be eligible. Of course you should direct your questions to a tax professional. The form to apply is here. And here’s the IRS link to Section 179 information.

What Qualifies?

Computer “off-the-shelf” software
Equipment purchased for business use
Computers
Business vehicles (over 6,000 lbs)
Office furniture
Office equipment
Property attached to your building that is not a structural component of the building
Partial business use (equipment purchased for business and personal use)