Expires Monday, December 31, 2018
About section 179 for 2018:
- Section 179 and bonus depreciation allow up to 100% deduction of the cost of new and used equipment.
- The deduction limit increased to $1,000,000.
- The spending cap on equipment purchases is $2,500,000. If a company’s equipment spend is above the cap, the Section 179 deduction will be reduced on a dollar-for-dollar basis.
- To qualify for the deduction in tax year 2018, the equipment must be financed/purchased and put into use before Dec. 31, 2018.