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About Section179

Section 179 is a tax code that allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. This deduction is intended to encourage businesses to invest in themselves and grow by providing a financial incentive to make necessary purchases. The maximum deduction for 2021 is $1,050,000, with a spending cap of $2,620,000. This means that businesses can deduct the full cost of qualifying equipment and/or software purchased and put into use during the tax year, up to the spending cap. Section 179 can be a valuable tool for businesses looking to reduce their tax liability and improve their bottom line by investing in necessary equipment and technology.

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