The Section 179 Tax Deduction is meant to encourage businesses to stay competitive by purchasing needed equipment, and writing off the full amount on their taxes for the current year. This free Section 179 calculator is fully updated for 2023 – go ahead, run some numbers and see how much you can actually save in real dollars this year.
To take advantage of these high Section 179 limits for 2023, the equipment must be purchased and put into service by midnight 12/31/2023. Use Form 4562 to claim your deduction.
*Information provided is for illustrative purpose only and accuracy is not guaranteed.