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This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for the tax year 2018, the equipment must be financed or purchased and put into service between January 1, 2018, and the end of the day on December 31, 2018.
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true “small business tax incentive” (because larger businesses that spend more than $3.5 million on equipment won’t get the deduction.)
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. The Bonus Depreciation is available for both new and used equipment.
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