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Cameras, computers or taxes? Section 179 Deduction for Businesses

Here in the US, if you’re a business, you can buy gear for your business and write if off 100% under Section 179 of the Internal Revenue Code. How’s that for Black Friday?

This year, that applies up to about $0.5 million (not a limit for me!). Be sure to ask your tax advisor about “section 179" — how about writing off the entire cost of the equipment, not just a measly 20% deprecation?! Consult your tax advisor here, I am not giving tax advice, just mentioning the topic for your own investigation. You have until Dec 31, 2010.

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