Mercury Bank USA 2025: Is It Safe? Reviews and Everything You Need to Know
Learn what Mercury Bank is, whether it’s safe (FDIC up to $5M), real user reviews, and how Prodezk can help you open your U.S. account seamlessly.
Section 179 is a tax tool that allows businesses to deduct the full or partial cost of certain assets purchased or financed during the fiscal year. These assets include equipment, machinery, software, and commercial vehicles.
Unlike traditional depreciation, which spreads deductions over several years, Section 179 enables businesses to deduct the full amount in the year the asset is acquired.
Not all assets are eligible for this deduction. However, the list includes:
The IRS sets clear limits for Section 179 deductions, which change annually. Here are the updated amounts:
Important Note: Section 179 deductions can be combined with bonus depreciation for even greater tax benefits, allowing businesses to deduct more of their asset costs in the year of purchase.
At Prodezk, we understand that maximizing tax deductions can be a challenge. That’s why we offer accounting services designed to optimize your tax burden and ensure compliance with your obligations.
Our Services Include:
1. Can I deduct the cost of a vehicle under Section 179?
Yes, but it must meet specific requirements, such as weight and exclusive business use.
2. Does Section 179 apply to used equipment?
Yes, as long as the acquired assets are new to your business.
3. What happens if my business doesn’t generate enough income to apply the deduction?
The deduction can only be used up to the amount of your net income. However, unused amounts can be carried forward to future tax years.
Section 179 is a powerful tool for businesses looking to save on taxes while optimizing their infrastructure. If you want to maximize your tax benefits, our team at Prodezk is here to help with tax advisory, customized accounting plans, and deduction management.
Contact us and take your accounting to the next level!