Types of Eligible Section 179 Assets

Types of Eligible Section 179 Assets, the Section 179 qualifying asset rules need to be followed to avoid any issues with the IRS. The IRS clearly lays out which assets qualify for the deduction, and which do not, making it critical you differentiate between the two.

What are the Qualification Rules?

The?IRS has listed out four rules?that must be met in order to be qualifying property for the?Section 179 tax deduction. The property must be eligible property, bought for business use, bought through a purchase sale, and not be specifically excluded property. These qualifications need to be met in order to take the Section 179 tax deduction. If you know your asset does not meet the above criteria, the eligible asset rules will not matter since no deduction will be allowed. #EligibleSection179Assets

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