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Tax Code 179 Made Simple - Reduce Your Income Taxes

So you*ve you heard of Tax Code 179 . . . but how do you really use it? * To reduce taxes practices either reduce revenues or increase expenses * It is unlikely that practices want to reduce revenues* So increasing expenses is the logical option * BUT, how does a practice increase expenses but not use any of their cash? * Depreciation is how*.Tax Code 179 is just using depreciation more effectively * Tax Code 179 allows a business to fully depreciate (i.e. expense) the cost of the equipment/software in the year they purchase it * Depreciation is the expense a practice takes for purchasing and using equipment/software * Depreciation is one of those rare expenses that DOES NOT re