Tag Archives: Sec 179

Year End Planning – Section 179 Expensing

Generous Section 179 expensing limits are set to expire at the end of this year.  If you are  planning to purchase machinery and equipment or invest in eligible real estate assets during the remainder of this year or early next year … Continue reading

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Section 179 Depreciation – Safe for at least 1 more year

In general, under Code Sec. 179, a taxpayer, can elect to deduct as an expense, rather than to depreciate, up to a specified amount of the cost of new or used tangible personal property placed in service during the tax year … Continue reading

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Still time to purchase assets and expense them under §179 before the end of the year

As we previously wrote, there are significant changes coming to the current tax law.  One of the most impacted areas relates to the timing of when we can expense the purchase of fixed assets.  Generally, there are two major provisions … Continue reading

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Remember bonus depreciation on capital asset purchases before year end

As we all know by now, most tax structures are set to expire the end of this year.  The two most popular provisions for small businesses (bonus depreciation and §179 expensing) are set to expire.  At this time it is … Continue reading

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Overview of Tax Rules for Software Purchases and Development Costs

We usually get a lot of questions about the proper tax treatment when our clients purchase or develop software. There are so many questions beacause the type of software varies so greatly.  Software ranges from operating systems and programs that are bundled … Continue reading

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Reduced Sec. 179 Deduction for 2012

Section 179 is a method that allows businesses to expense certain assets when they are purchased instead of writing off depreciation over a number of years. For a tax year beginning in 2012, the Code Sec. 179 expensing election is … Continue reading

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100% Bonus Depreciation for Heavy SUVs

I am currently in the market for a new business vehicle.  I was thinking about down sizing from my Ford Pick Up.  You know the type, the one with the six foot bed that is eligible for expensing under Section 179.  … Continue reading

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Sec 179 Depreciation Limits Extended

Under Code Sec. 179 , a taxpayer can elect to deduct as an expense, rather than to depreciate, up to a specified amount of the cost of new or used tangible personal property placed in service during the tax year … Continue reading

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100% Bonus Depreciation

Yes you heard that right. Under the 2010 Tax Relief Act, qualified assets purchased after September 8, 2010 and before January 1, 2012 are eligible for bonus first year depreciation of 100%.  Let’s just say that we can expense them … Continue reading

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