How expensing works
Under Section 179 of the tax code, you can elect to instantly deduct, or "expense," the cost of qualified business assets bought and placed in service during the year, up to a certain limit. Two years ago, the maximum allowance was quadrupled from $25,000 to $100,000. Subsequent inflation adjustments have pushed the limit even higher. For
2005, the maximum allowance is set at $105,000.
You can take the Section 179 write-off for tangible business asse...(register to read more)