When business may be getting slow, how do you rise to the challenge? Section 179 can take you there.
What you need to know about Section 179 as a business owner:
- IRS Code enacted to help small businesses.
- Allows you to take a depreciation deduction for specific assets in one year, vs over a longer period of time. Example: equipment or machinery purchased with MTCC!
- You can take the deduction on an asset acquired within its first year.
- This can lower your tax liability, by lowering your taxable income.
**Please make sure to consult with your accountant prior to utilizing these suggestions.