Section 179 Expensing and Special Offers

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What is Section 179? 

Small business expensing, also known as Section 179 expensing† is an IRS tax incentive created to encourage businesses to invest in themselves. In December 2015, Congress voted to make, Section 179 expensing, permanent at $500,000 per year. NFIB played
a crucial role in getting this measure passed on behalf of small businesses.

WHAT DOES SECTION 179 MEAN FOR YOUR SMALL BUSINESS?

Section 179 allows businesses to deduct the full price of qualifying new or used business equipment, as well as software, purchased, leased, or financed during the tax year. That means that if you buy a piece of qualifying equipment, you can deduct
the FULL PURCHASE PRICE (up to a $510,000 maximum in 2017) from your gross income. 

HOW SMALL BUSINESSES USE SECTION 179

Review the How Section 179 Helps Small Businesses Grow infographic to the right to see how NFIB Members reported using the Section 179 tax deduction to make qualifying purchases in 2016. 

 

NFIB Members can save up to $510,000 in tax deductions on eligible business expenses. Make this year’s purchases count! Invest in your business today with purchases or a line of credit from these NFIB providers:

Minimum 10% discount and free ground shipping on orders of maintenance, repair and operational supplies.

Save up to 40% on select systems with exclusive member discounts.

Members receive $500 cash allowance and up to $1,000 in incentives on most vehicle models.

Lines of credit up to $150,000 to finance your qualified business purchases. Grow your business while getting a break on your taxes.

 
 
 

Protect Your Small Business

Join a group of 325,000 small business owners on a mission to ensure your right to own, operate, and grow your business.

 
 

NFIB Member Benefits are offered by third-parties through contractual arrangements with the NFIB Member Services Corporation, a wholly-owned subsidiary of NFIB, or one of its affiliated agencies. Neither NFIB nor any of its subsidiaries or affiliated
agencies is providing any products or services to you and they shall not be responsible for any claims or losses relating to the use of the NFIB Member Benefits.

†Almost all types of business equipment and “off the shelf” software qualify for the Section 179 deduction. Consult your tax advisor to ensure any products you plan to purchase meet Section 179 expensing guidelines. All equipment must be financed/purchased
and put into service by midnight on 12/31/2017.

 

Section 179 Resources

Infographic:

Webinar:

How Can Section 179 Help You Save on Business Taxes?

Video:

The Section 179 Tax Incentive:
What Your Small Business Needs to Know

SPECIAL
SECTION 179 TAX DEDUCTION ZONES

The IRS has identified several different areas of the country as special zones that qualify for an increased Section 179 Deduction. Some of the zones the IRS has identified include:

  • New York Liberty Zone
  • Enterprise Zone and Renewal Community Businesses
  • Gulf Opportunity Zone (areas affected by recent Gulf Hurricanes)

Click below for more information regarding special Section 179 zones.

Learn More

 

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