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Section 179 of the Internal Revenue Code is a tax provision designed to encourage small and medium-sized businesses to invest in equipment. The tax provision allows them to deduct the full purchase price of qualifying equipment from their gross income in the year it is purchased. Therefore, this deduction is beneficial for businesses looking to improve their operations through strategic equipment acquisitions.

As of 2024, the tax year's deduction limit is $1,220,000. However, please note that tax laws and limits can change. So, it's important to consult the most recent IRS publications or a tax professional for the current deduction limits.

Read this article from First Citizens Bank about Section 179, the benefits of buying equipment, and why a purchase from Vibe Forklifts, LLC is a smart investment.

We also offer financing with First Citizens Bank - Call for Details