Section 179 of the IRS tax Code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased of financed during the tax year, up to $1,080,000.
Note: The deduction limit is $1,080,000 and the limit on purchased equipment is $2,700,000. Once the limit is exceeded, the 179 deduction is reduced dollar-for-dollar, i.e. at $3,780,000 of equipment purchased, the 179 deduction is no longer available.