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Taxes: 179 Deduction

• by Wes Read CPA, CFP®
• May 11, 2020

The IRS makes an exception to their standard depreciation rules in what's known as a section "179 deduction." Throughout your career, you will hear people encourage you to take a section 179 deduction to save in taxes. But does it really save you in taxes? And how does it work exactly? In this video, we provide an answer to both these questions and explain that the 179 deduction is a powerful tax lever you can pull. But knowing when to pull it is extremely important to make sure you avoid a tax trap that is all to common among dentists.