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Tax Tips: What Is a Section 179 Depreciation Deduction?
TaxesRetirement PlanningYour MoneyBusiness Owner
Confused about Section 179 and depreciation? We compare the two, providing clarity on which strategy is most advantageous for your small business.
Originally published on TheStreet Jun 9, 2022.
In this episode of Tax Tips, Jeffrey Levine of Buckingham Wealth Partners meets with Retirement Daily on TheStreet editor Robert Powell to discuss Section 179.
Our tax expert gives us a quick lesson on a Section 179 deduction, answering the questions:
- How might a sole entrepreneur or small business owner decide whether and when to use a Section 179 depreciation deduction?
- What is a Section 179 deduction?
- What are the advantages and disadvantages of using the deduction?
- What questions can you ask to understand how using the deduction would impact you?
Make sure to watch the video to get the answers to all of these questions, and then some!
Want more content with Jeffrey Levine? Check out Ask the Hammer.