Section 179

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Section 179

An alternative to depreciation, which is a way of deducting expenses gradually over an asset's useful life. Under Section 179, one may deduct the entire cost of the certain assets in the year they were purchased (or put into service). One may not use Section 179 for certain assets, notably real estate.
References in periodicals archive ?
In 2013, the maximum Section 179 depreciation deduction is $500,000 and begins to phase out when assets placed in service during the year exceed $2 million.
You should take advantage of the Section 179 Depreciation Deduction where you can, as the limit has doubled from $125,000 in 2007 to $250,000 for 2008.
I believe that the Section 179 Depreciation Deduction for Passenger Cars is $10,610 in the first year of purchase (page 57/58 of IRS Publication 946).