how to use section 179

It is very easy to use!

Once your business makes a purchase that is eligible for the Section 179 Tax Deduction follow the steps below to take advantage of the tax write-offs. By lowering your tax bill your company saves money. Those funds can be reallocated to other business needs.

Simply fill out Part 1 of IRS form 4562, available for free below, and attach it to your tax return (much like any other additional form, such as a “Schedule C” or similar).

Download IRS form 4562 for tax year 2017. 

Download instructions for IRS form 4562 for tax year 2017. 

If you do not feel comfortable completing the form yourself, your tax preparer can easily take care of form 4562 for you. Your tax preparer may also be able to advise you of additional Section 179 Deduction and Bonus Depreciation savings that may be available to you.

As we mentioned previously, most equipment as well as off-the-shelf software that you purchase, finance or lease for business-use is going to qualify for the Section 179 Deduction. 

You can also deduct the cost of capital when you secure financing to make company purchases

Use this tax deduction to save money on the qualified items you purchase. Getting you submitted so that you can see your free quotes is a completely free service. There’s no credit check, no social security number, Tax ID number, hassle, or obligation to accept any offer presented.