A section 179 calculator is an online tool that helps businesses calculate the amount of depreciation they can deduct on their taxes for qualifying equipment purchases. Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment in the year it is purchased, rather than depreciating it over several years. This can result in significant tax savings, especially for businesses that purchase a lot of equipment.
There are a number of different section 179 calculators available online. Some calculators are simple and only require you to enter the purchase price of the equipment. Other calculators are more complex and allow you to enter additional information, such as the type of equipment, the date it was purchased, and the expected useful life. Regardless of the type of calculator you use, it is important to make sure that you enter accurate information in order to get an accurate calculation.
