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5c. Taxes

managing finances
Managing Finances | Expenses

The current Internal Revenue Service (IRS) Code Section 179 allows business owners to deduct the purchase price of equipment and/or software put into service during the year. Currently, for 2016, the maximum deduction has been increased to $500,000. Depreciation greatly offsets the original cost of purchasing your own equipment. This accelerated depreciation deduction in year one supersedes ...