Under the tax laws, business owners are allowed to recover all or part of the cost of certain purchases up to a certain limit by deducting it immediately in the year the property is placed into ...

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 ...

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 ...

It appears from the farmer's tax guide that field drainage tile is a sec. 179 deduction for 2010 and 2011. Does that include both the labor and materials cost? Is there a limit on the amount I can ...

Q I expanded my business in 2014 and purchased a significant amount of furniture, fixtures and equipment. Will I be able to deduct all these purchases on my 2014 tax returns? In addition, will the ...

Your article was successfully shared with the contacts you provided. This is the 11th in a series of 23 tax tips that AdvisorOne is publishing on each business day in March as part of our Tax Planning ...

With the large increase of Section 179 deduction for 2010 and 2011 to $500,000 and 50% bonus depreciation on new assets in 2010 and possibly 100% in 2011, it is now even more important for your tax ...

The Section 179 rules for 2012 were set to return to $25,000, with a phase-out threshold of $200,000. The Tax Relief Act increased the maximum Section 179 deduction for 2012 to $125,000. The 179 ...