It’s one of the few government incentives available to small businesses and has been included in many of the recent Stimulus Acts and Congressional Tax Bills. Although large businesses could also benefit from Section 179 or Bonus Depreciation, the original target of this legislation was much-needed tax relief for small businesses – and millions of small businesses are taking action and getting real benefits.
Many people think the Section 179 deduction is some mysterious or complicated tax code. It really isn’t. Here are six quick facts to keep in mind for 2023.
Speak to your tax professional about how to take full advantage of Tax Code 179.
