I had read somewhere, on a photography forum [can't remember the details] that a change in the tax law, allowed a business to deduct the actual equipment expense in the tax year it was purchased and said equipment no longer had to be depreciated.

I've tried the search function [yippee] with no luck. Searched the IRS website too but only found references to Section 179. I thought I had it bookmarked, but can't find it.

If anyone has any info or can point me in the right direction, it would truly be appreciated. TIA

Ciao

Section 179 is right...A google search for equipment deduction business yielded a ton of results directly on point on the first page [Google is your friend]. Obviously check with your tax professional and don't take my word (or the internet's!).

Yup, no need to depreciate. Just write off the entire cost of the equipment.

I try not to get political, but be very afraid if Hillary or Obama gets the white house! I'm sure that will be one of the first things on the chopping block. I'm seriously worried about my tax bills for my family & my business if one of them gets in. We "rich" business owners (and it doesn't take a lot to be considered "rich" in their eyes) need to start paying more of our fair share because of our economic crisis, and we need to be happy about it.

Hey we gotta pay for this three trillion dollar war somehow

I'm blessed to have a father-in-law who is a CPA and does all my taxes for free. Now if I could just find a relative who does drywall mudding and taping......