It sounds too good to be true, but it's not. Section 179 allows businesses to take full or accelerated depreciation of equipment you purchase or lease in any given tax year up to certain limits. What does that mean? Well, in 2014 if you were to finance equipment costing $25,000, you may be able to write that full amount off from your federal taxes, even if the money coming out of your pocket is only a fraction of that.
For example, let's say you took out an equipment leas