Section 179 First Year Depreciation Tax Deduction

It’s official! The Maximum Section 179 First Year Depreciation tax deduction amount is $500,000 for 2015!

This is retroactive for all equipment and furniture purchases made during the entire year of 2015.

The new law also allows for additional bonus depreciation up to 50 % for property placed in service during 2015, 2016 and 2017 and phases down to 40 percent in 2018, and 30 percent in 2019.