What SECTION 179 EXPENSE DEDUCTION means: An election to treat the cost of certain qualified property as a currently deductible expense rather than as a capital expenditure. This is also referred to as expensing. See Form 4562 for the current dollar limits on the deduction.
- Definition Section 1250:
- Dictionary is sold, gain must be recaptured as ordinary income to the extent of the depreciation claimed in excess of straight line. Section 1250 is the section of the Internal Revenue Code that requires this section 179 expense deduction.
- Definition Social Security Tips:
- Dictionary The amount of tips reported to an employer by an employee that is subject to this tax. Tips are also subject to Medicare tax section 179 expense deduction.
- Definition Stock In Trade:
- Dictionary Property held primarily for sale to customers in the ordinary course of business section 179 expense deduction.
- Definition Service Business:
- Dictionary A business in which income is produced chiefly by personal services rendered section 179 expense deduction.
How works Section 179 Expense Deduction meaning in Tah definition S .