Section 179 is an immediate expense deduction that business owners can take for purchases of depreciable business equipment instead of capitalizing and depreciating the asset. The Section 179 deduction can be taken if the piece of equipment is purchased or financed and the full amount of the purchase price is eligible for the deduction. Taking the cost of the equipment as an immediate expense deduction allows the business to get an immediate break on their tax burden, whereas, capitalizing then depreciating the asset allows for smaller deductions to be taken over a longer period of time.

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