What Is A Section 179 Deduction?
Section 179 is a tax deduction in the IRS tax code that allows business owners to deduct the cost of qualified equipment or software purchased or financed during the tax year, so long as it is implemented during the tax year in which the deduction is being claimed. This allows businesses to reduce their tax liability for the current year, as opposed to capitalizing an asset and depreciating it over time.
The purchased software must be utilized for business purposes more than 50% of the time to qualify for the deduction. If you purchased bMobile Route Software this year, section 179 could apply to you. To determine your possible deduction, we suggest using the Section 179 Deduction Calculator. Additionally, for further clarification regarding your qualifying purchase/s, speak to your Certified Tax Preparer, or Accountant.
Recent Blog Posts5 Ways Route Accounting Software Can Help You Stand Out in Bread and Bakery Distribution
The bread and bakery industry has been experiencing steady growth due to the rise in
Companies within the food and beverage distribution industry face stiff competition. These companies strive
5% to 10% of the average annual budget of the fleet goes in vain.