Section 179

UNDERSTANDING THE SECTION 179 DEDUCTION

Section 179 Tax Deduction

Nissan Commerical Vehicles and Section 179

Nissan's family of NV cargo vans, the NV Passenger van, along with most models of the Titan pickup all qualify for Section 179. A complete description of how to determine if a particular vehicle qualifies for Section 179 can be found on the Vehicles and Section 179 page. Below is a brief description of Section 179, and an example calculation. Additional information can be found on the Section 179 web site.

Section 179 Deduction and Bonus Depreciation

What is Section 179 Deduction?
Section 179 of the IRS Tax Code allows a business to deduct, for the current tax year, the full purchase price of financed or leased equipment and off-the-shelf software that qualifies for the deduction. The equipment purchased, financed or leased must be within the specified dollar limits of Section 179, and the equipment must be placed into service in the same tax year that the deduction is being taken (for example, the equipment must be put into service between January 1st and December 31st of the year the deduction is to be taken.)

Answers to other questions can be found on the Section 179 FAQ.

*The information contained on this site does not constitute tax advice or an accountant-client relationship. You should consult with your tax professional regarding your specific circumstances.

Section 179 at a Glance for 2016

2016 Deduction Limit = $500,000
This deduction is good on new and used equipment, as well as off-the-shelf software. This limit is only good for 2016, and the equipment must be financed/purchased and put into service by the end of the day, 12/31/2016.

2016 Spending Cap on equipment purchases = $2,000,000
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".

Bonus Depreciation: 50% for 2016
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. Note: Bonus Depreciation is available for new equipment only.

The above is an overall, "simplified" view of the Section 179 Deduction for 2016. For more details on limits and qualifying equipment, as well as Section 179 Qualified Financing, please read this entire website carefully. We will also make sure to update this page if the limits change.

Here is an updated example of Section 179 using an NV cargo van with a $35,00 price tag using the Section 179 Calculator.

Section 179 Tax Deduction

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