There’s good news about the §179 depreciation deduction for business property. The election has long provided a tax windfall to businesses.  This is because it enables them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. §179 was increased and expanded by the Tax Cuts and Jobs Act (TCJA).  Therefore, it's a good time to buy business equipment. Even better, the §179 deduction isn’t the only avenue for immediate tax write-offs for qualified assets. Under the 100% bonus depreciation tax break provided by the TCJA, the entire cost of eligible assets placed in service in 2019 can be written off this year. §179 basics The §179 deduction applies to tangible personal property (e.g. machinery and equipment) purchased for use in a trade...