Section 179 Calculator
Section 179 of the IRS Tax Code allows small businesses to deduct the cost of qualifying equipment they have purchased or financed within the tax year.
For the 2020 tax year businesses can deduct the full cost of qualifying equipment and vehicles, up to $1,000,000. Equipment must be purchased or financed and put into service by midnight 12/31/2020.
Check with your tax professional for additional details and more options for deducting business expenses from your taxes or visit the IRS website for New Rules and Limitations for Depreciation and Expensing Under the Tax Cuts and Jobs Act