Section 179 tax deduction for 2024: What you need to know.
If you own a small business, the Section 179 deduction is one of the most essential tax codes you need to be familiar with. It lets you deduct all or part of the cost of equipment purchased or financed and put into place before December 31, 2024.
The only stipulation is that the equipment needs to qualify for the deduction. Balboa Capital has all the information you need to know, along with a helpful Section 179 calculator. It’s a good idea to become familiar with this tax incentive to plan for your business’s future regarding capital equipment purchases.
Section 179 limits and information on the Balboa Capital website are for illustrative purposes only; the Section 179 limits and information provided are subject to change by the IRS. Please visit the IRS website or consult a qualified tax professional for confirmation of the current Section 179 limits and information related to your situation.
