Vehicle-related deductions under Section 179 have unique rules and limitations. Consulting a tax professional is highly recommended to ensure compliance and maximize benefits. Section 179 is a tax ...

In what’s sure to be welcome news for small and midsize companies, the Section 179 tax deduction has been increased by $30,000 for 2025. The total deduction is now $1.25 million. In addition ...

Before I go any further, let me quickly go over what Section 179 is. It is the tax deduction that allows companies to write off the full purchase price of qualifying new and used equipment ...

Restoring the tax provision would allow farms and dairies to write off capital purchases instead of depreciating them over time. Dairy producer Pete Wiersma would like to buy another feed truck ...

Here we outline one significant tax incentive, the IRS Section 179 deduction under the new Tax Cuts and Jobs Act, and explain how it can benefit your business. The Section 179 tax code has existed ...

Whoa, heavy, man. The 5,441-pound Tesla Model X will be eligible for a massive $25,000-tax deduction from the IRS, if you own your own business. To qualify for a Section 179 tax break, the IRS ...

The effect on the budget is not that great since this is not an extra deduction but ... and does not reduce SE tax. I personally am starting to take more Section 179 versus 100% bonus depreciation.

The expense of software development can be claimed now or capitalized and amortized based on the taxpayer's circumstances and whether or not tax deductions should be accelerated or deferred. Section ...

By C. Robert Holcomb and Gary Hachfeld, University of Minnesota Extension The new “2007 Ag Income Tax Update for Farm Families” from University of Minnesota Extension outlines tax law changes ...