Match each statement with the correct term below.
-Section 179
A)Trucks, and passenger automobiles.
B)Used to recover the investment in intangible assets.
C)Used to recover the investment in long-lived tangible business-use assets.
D)An attempt to stimulate capital investment by small businesses.
E)Used to recover the investment in assets that waste away through extraction.

Question

Quizplus · Accepted Answer

Section 179 is a tax deduction that allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year, aimed at encouraging small businesses to invest in capital assets.

Match Each Statement with the Correct Term Below