Section 179 Deduction

This refers to a section of the Internal Revenue Code that permits taxpayers to expense (write off in one year) up to $510,000 in 2017 (up from $500,000 in 2016) of business equipment expenditures that would normally have to be depreciated over their useful lives. The $510,000 allowance is gradually reduced for businesses that place into service more than $2,030,000 in 2017 (up from $2,010,000 in 2016) of business equipment during the year.