IRS Section 179 Tax Deduction Calculator
What is it and how can you take advantage?
Essentially, Section 179 of the IRS Tax Code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means if you buy or finance a piece of qualifying equipment, you can deduct the full purchase price from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. Deduct new and used equipment and packaged software purchases.
Purchase Price
Assumed Tax Rate
Section 179 Deduction (2023 Maximum of $1,160,000)
Bonus Depreciation Deduction (80% in 2023)
Total Year One Deduction
Reduced Cost of Purchase
Cash Savings from Purchase
Take Advantage of IRS Section 179 Tax Deduction
Maximize profits with Section 179 tax deduction without any payments this year. With the ability to approve all credit profiles, Tandem Finance is making it easier than ever to invest in your business and enhance your bottom line.
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Apply online and get approved within hours
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The first payment can be deferred up to 90 days*
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Flexible terms between 12 and 72 months
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All credit profiles considered, including start-ups
Within 24 hours, you can purchase the equipment you need with an affordable monthly payment.
IRS Section 179 allows businesses to potentially deduct the full purchase cost of approved equipment and/or software purchased or financed throughout the tax year.
*Subject to credit approval by Tandem Finance • Tandem Finance does not provide legal or tax advice • Please contact an authorized tax advisor or visit irs.gov to confirm if you qualify for this tax benefit • The amount of cash savings is an example to be used for estimation purposes only