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AgPower Blog

Sunday, December 6, 2020

Section 179, 2020

As the 2020 year comes to a close, make sure you take full advantage of Section 179 Tax Deductions!

Section 179 has been viewed as a complicated tax code, but with the right knowledge and help it doesn't have to be. With the right information, and help from your accountant, you can take advantage of Section 179 deductions.

Section 179 at a Glance

- 2020 Deduction Limit = $1,040,000
- 2020 Spending Cap on Equipment Purchases = $2,590,000
- 2020 Bonus Depreciation = 100%

Please note that the above is just an overview, and not all the details. Please visit with your tax accountant for full details, or visit the Section 179 website.
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