The section 179 deduction allows a small business to take a tax deduction for the entire cost of certain property and equipment in the year it buys that property. That produces a larger, more ...

Is your business expecting a very profitable year, knowing you will have a painful income tax debt to pay next April? Do you have plans to purchase some equipment within the next six months? If so, ...

I started my farming operation in late 2011 and purchased property that included drain tile and a gravel road. As I understand these qualify for 179 expense deductions after I allocate my purchase ...

BOSTON (CBS) - Normally if you purchase capital equipment for your business you don't get to expense the total cost of the equipment the year you buy it. You depreciate the equipment over its useful ...

I am 58yrs of age and receive $8660 for disability from my former employer, and receive a 1099R which I enter that amount on line 7 of Form 1040. I have rental income profit of $4069 and enter on line ...

The IRS has issued guidance on deducting expenses under Section 179(a) and on deducting depreciation under Section 168(g). These rules, in Revenue Procedure 2019-08 and as amended by the Tax Cut and ...

The Act permanently extends Section 179 of the Internal Revenue Code of 1986, as amended (the “Code”), which provides taxpayers with an election to expense certain depreciable business assets ...