Gary Michaels owns a landscaping company. His business taxable income (prior to any Section 179 deduction) was $5,000. He has purchased $50,000 in new equipment during the year. What is the maximum amount Gary can deduct as a Section 179 expense for this tax year?

Answer rating: 100% (QA)

Section 179 of the IRS tax code allows small businesses to deduct the full purchase price of q... View the full answer