Take advantage of tax deductions up to $1 million on the purchase of capital equipment by the end of the calendar year.
For tax years beginning after 2017, the TCJA increased the maximum Section 179 expense deduction from $500,000 to $1 million. The phase-out limit increased from $2 million to $2.5 million. ... Revenue Procedure 2019-08 explains how taxpayers can elect to treat qualified real property as Section 179 property.
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