SECTION 179 TAX DEDUCTION FOR BUSINESSES
YEAR-END TAX INCOME PLANNING UNDER THE TAX CUTS AND JOBS ACT
BY JULIA ZIECHMANN, JD, LLM
For qualified property placed in service during 2018, $1,000,000 can be expensed under Section 179 (up from $510,000 in 2017). This deduction begins to be phased out if more than $2,500,000 of property is placed in service during 2018.
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