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Section 179 Tax Deduction Calculator

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2014 Update: Balboa Capital's Section 179 calculator and all information relating to this tax provision is based on 2014 IRS numbers. If Congress makes any changes, we will update our Section 179 calculator.

 
 

25,000 Reasons To Look At Section 179

Last year, there was a certain amount of uncertainty regarding the Section 179 limit; it was discussed by Congress on several occasions and the IRS took a while to issue a final deduction limit. As it stands right now, the total 2014 deduction limit is $25,000. This means you can buy or lease up to $25,000 worth of equipment and deduct its cost in 2014, providing you place it into service this year. You may also elect to use Section 179 with more than one piece of equipment, as long as the total deduction amount does not exceed $25,000.

So, if you are in the market for new or used business equipment, talk to your tax professional right away. They will let you know if the equipment you want to buy meets the Section 179 eligibility requirements that are set forth by the IRS.

* The Section 179 tax calculator and tax example scenarios are intended for estimate purposes only. The estimated tax savings may be based on assumptions that do not apply to your specific business tax situation. Please consult with your tax professional to determine the full tax implications of leasing equipment. Additional information on business taxes and eligible equipment can be found on the irs.gov website. Congress may make changes to the Section 179 deduction limits without notice.

 

Links to Our Section 179 Resources

2014 Tax Deduction Update
2013 Tax Deduction Limit
Tax Write-Offs and Equipment Leasing
Property That Qualifies
Tax Deduction FAQ
Free Whitepaper