Typically, a business is allowed deductions for depreciable, tangible, property. However, § 179 allows a business to treat the entire cost of any § 179 property as an expense which is not chargeable to their capital account. The full purchase price is allowed as a deduction for the taxable year in which the § 179 property was put into service — typically the year it was purchased.
Small Business Tax Deduction: Write off Your Business Assets
Posted by mirsbblogger under TaxesFrom http://smallbusiness.uprinting.com 5009 days ago
Made Hot by: BusinessBloggerPro on January 19, 2011 2:14 pm
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