New Section 179 Deduction Amount

The §179 expense deduction amount was permanently increased to $1,000,000 in 2018 and subject to inflation for the taxable years after 2018.  The 2019 amount is $1,020,000 with a phase-out threshold of $2,550,000.


David is a sole-proprietor.  He purchased $2,250,000 of equipment and office furniture during 2019.  His business income was $1,800,000.  He may take the §179 expense deduction up to $1,020,000 if he qualifies.


Cathy Fisher

Common Cents Bookkeeping and Tax Preparation

Serving Henderson, NC, Buncombe County, Polk County, Transylvania County


P: 828-595-2835

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