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2020 Section 179 Overview
What is the Section 179 Deduction?
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased
or financed during the tax year. In 2020, the deduction limit on equipment is $1,040,000. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
In 2020, the spending cap on equipment purchases is $2,590,000 before the section 179 Deduction begins to be reduced on a dollar-for-dollar basis. How Section 179 works…
How Section 179 works…
When your business buys
The COVID-19 pandemic has had an unprecedented economic impact in the U.S. and around the globe. Hunter Engineering recognizes times are challenging for everyone and we are here to help. Our customers can rest assured that Hunter’s team will strive to maintain the same quality, service level, flexibility and commitment they have come to expect.