The Section 179 Deduction is a great way for small business owners to invest more into their companies while getting tax breaks on equipment. Similar to all government programs, however, there are certain rules that must be followed. Here is a list of rules for property that cannot be claimed under the section 179 deduction:
This means you cannot claim land purchases or land improvements under the Section 179 Deduction. Land Improvements includes things like swimming pools, fences, pavement, or bridges.
As long as your property doesn’t fall into one of these descriptions, it can be claimed on your tax return under section 179.
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