Section 179 Tax Deduction

Section 179 of the IRS tax code is a way for business owners to get their purchase of a new vehicle to do even more for them.

**As always, if you have questions, consult your tax professional for exact rules regarding Section 179 and vehicles.**

There is a lot to Section 179 of the tax code, but it can be essentially summarized as a means for business owners to deduct qualifying equipment or software that was purchased or financed during the tax year. This tax incentive was created to encourage business owners to invest even more in their businesses, and it allows you to deduct the full purchase price of the piece of qualifying equipment from your business’s gross income.