BizSugar.com › Taxes › Small Business Tax Deduction: Write off Your Business Assets

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.