Fundamentally, Section 179 of the IRS tax code gives businesses the ability to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. This means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. This incentive was created by the United States government to encourage businesses to buy equipment and invest in themselves.
*You may need to consult your tax professional for exact rules regarding Section 179 and equipment purchases.*