Take Advantage Of IRS Section 179 Deduction For 2012
Get started today and take advantage of the IRS Section 179 Deduction. Make profits today with fresh juice and take advantage of the busy holiday season and deduct the entire cost of your new CitroCasa juicer from your 2012 income taxes! Plus make no payments for the rest of this year!
Section 179 of the IRS Tax code was enacted to help small businesses by allowing them to take a depreciation deduction for certain assets in one year, rather than depreciating them over a longer period of time. Taking a deduction on an asset in its first year is called a “Section 179 deduction.”
For many businesses, there is a benefit to taking the full deduction for the cost of the item immediately, rather than being required to spread out the deduction over the item’s useful life. Currently, the deduction limit for Section 179 is $139,000. This means you can deduct the Full Purchase Price (up to $139,000) from the gross income. Please consult with your tax professional to see how the Section 179 Deduction can work for you.