With Congress passing into law The Tax Cuts and Jobs Act, the deduction limit for Section 179 has increased to $1,000,000 for 2018. The limit on equipment purchases likewise has increased to $2.5 million. This allows businesses to deduct up to $1,000,000 of the cost of new and used equipment in 2018. Additionally, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also includes used equipment. Read More