WHAT IS TAX CODE 179?
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
WHAT QUALIFIES FOR TAX CODE 179?
All businesses that purchase, finance, and/or lease new or used business equipment during tax year 2018 should qualify for the Section 179 Deduction (assuming they spend less than $3,500,000).
1) Each individual’s tax situation is unique; therefore, please consult your tax professional to confirm vehicle depreciation deduction and tax benefits. For more details, visit irs.gov. The deductions referenced are for informational purposes only. This information does not constitute tax or legal advice. All persons considering use of available deductions should consult with their own tax or legal professional to determine eligibility, specific amount of deductions available, if any, and further details. The deductions are not within Nissan’s control and are subject to change without notice. Interested parties should confirm the accuracy of the information before relying on it to make a purchase.
2) The tax incentives are available for depreciable tangible property that is acquired by purchase for use in the active conduct of a trade or business.
Consult your tax professional for more details.