Section 179 Tax Deductions for 2010

November 3, 2010

Section 179 of the United States Tax Code enables businesses to deduct the full purchase price of certain equipment during the tax year. Section 179 caps the total amount written off to 500,000 dollars in 2010. This section has been established for small to medium size companies. Businesses that exceed more than 2 million dollars in total expenditure may not qualify for a 179 deduction. The qualified equipment must comply with the 50% business use requirement. That is the equipment must be used more than 50% of the time for business purposes. The qualified equipment must be purchased and put to use prior to December 31, 2010.

Eligible Candidates

Businesses that purchase or finance less than 2,000,000 dollars in equipment in 2010.

Qualified Property

  • Equipment purchased for business use.
  • Business vehicles with gross weight in excess of 6,000 pounds.
  • Computers
  • Computer Software
  • Office Furniture
  • Office Equipment

You can find more information at the following websites:

Disclaimer: HDD Broker is not a tax advisor. This information is not tax advice. For accurate information as it relates to your tax deduction please contact a tax attorney and/or your tax preparer.

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