The deduction limit for 2016 is $500,000. This is a large increase from other years, and means businesses can deduct the full cost of equipment from their 2016 taxes, up to $500,000. This can really make a difference to your bottom line at the end of the year.
To take advantage of these high Section 179 limits for 2016, the equipment must be purchased and put into service by midnight 12/31/2016. Use Form 4562 to claim your deduction.