Section 179- Letting the Government Pay For Your Stuff

By | October 24, 2007

First off, I owe you a bit of an apology if the title of my post on Section 179 Deductions came across as a bit of a teaser. It’s intended to spark a little interest and questions, primarily about the types of equipment that qualify for this deduction. I truly appreciate your curiosity and engagement, and I’m here to illuminate this topic further.

Let’s go over the basics again. Section 179 of the United States Internal Revenue Code (26 U.S.C. §179) permits businesses to immediately deduct the cost of certain types of property. But this brings us to the million-dollar question: what exactly falls under “certain types of property”?

You’ll be glad to know that a wide assortment of items qualify for this deduction. Everything from printing presses and machine tools to Hummers and GPS tracking units are fair game, as long as they are used for business purposes. And let’s not kid ourselves, “business use” can be a pretty expansive term.

If you’re still feeling a bit lost or have more questions, don’t hold back. Look out for the people sporting bowties—they’re generally the go-to experts on this topic!

In our next conversation, we’re going to switch lanes and venture into the fascinating world of culinary arts, specifically, the art of frying a turkey. I hope you’ll stick around for that!

For further reading and a detailed understanding of what equipment qualifies for Section 179 deductions, I recommend you visit the official IRS page on Qualifying Equipment.