IRS Tax Code

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August 31, 2024 4 min read Definitions

Section 179 Deduction: Immediate Expense Deduction for Businesses

Finance Taxes Business Expenses Tax Deduction Depreciation IRS Tax Code Capital Investments

A tax code provision that allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year, providing immediate expense deduction of certain property, including vehicles, up to specific limits.

Read more about Section 179 Deduction: Immediate Expense Deduction for Businesses.