--- title: Tax Deduction - Section 179 description: In this episode, we're helping educate pharmacy owners, directors, and pharmacy business stakeholders about the benefits of Section 179 Tax Deduction. --- - [Facebook](https://www.facebook.com/RxSafe) - [Twitter](https://twitter.com/RxSafe) - [LinkedIn](https://www.linkedin.com/company-beta/2896335/) - [YouTube](https://www.youtube.com/user/RxSafe) - [RSS](https://rxsafe.com/feed) [![black-order_cart_2a@1.5x](https://info.rxsafe.com/hubfs/black-order_cart_2a@1.5x.png "black-order_cart_2a@1.5x")](https://reorder.rxsafe.com) [(877)-797-2332](tel:1-877-797-2332) [![eyecon-RxSafe-combo-logo-blk-200x56](https://info.rxsafe.com/hs-fs/hubfs/eyecon-RxSafe-combo-logo-blk-200x56.png?width=200&height=56&name=eyecon-RxSafe-combo-logo-blk-200x56.png)](https://rxsafe.com/) - [SOLUTIONS](https://rxsafe.com/solutions-2/) - Pouch Packaging - [RapidPakRx](https://rxsafe.com/solutions/rapidpakrx/) - [Vial Filling-Secure Med Storage](https://rxsafe.com/solutions/vial-filling/) - [RxSafe 1800 w/RWS](https://rxsafe.com/solutions/rxsafe-1800-w-rws-copy/) - [Blister Card Filling](https://rxsafe.com/solutions/blister-card-filling/) - [RapidCardRx](https://rxsafe.com/solutions/rapidcardrx/) - [RapidCardSD](https://rxsafe.com/solutions/rapidcardsd/) - Pill Counting - [Eyecon](https://www.eyeconvpc.com/) - IMPACT - [Success Stories](https://rxsafe.com/case-studies/) - [Before & After](https://rxsafe.com/services/installation/) - [FAQS](https://rxsafe.com/faqs/) - [Blog](https://info.rxsafe.com/blog/) - [Videos](https://rxsafe.com/resources/videos/) - [ABOUT](https://rxsafe.com/about/) - [Events](https://rxsafe.com/events/) - [Careers](https://rxsafe.com/about/careers/) - [Testimonials](https://rxsafe.com/about/testimonials/) - [CONTACT US](https://rxsafe.com/contact/) - [Training and Support](https://rxsafe.com/services/training-and-support/) Tax Deduction - Section 179 [Home](https://info.rxsafe.com/)   >   Tax Deduction - Section 179 # Taking Full Advantage of Section 179 Tax Deduction - Pharmacy Podcast Episode 476   Full Transcript ![](https://info.rxsafe.com/hubfs/Transcripticon.png) RxSafe sponsor's this episode of the Pharmacy Podcast to help educate pharmacy owners, directors, and pharmacy business stakeholders about the benefits of Section 179 Tax Deduction.  2017 Deduction Limit = $500,000 This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for the tax year 2017, the equipment must be financed/purchased and put into service between January 1, 2017, and the end of the day on December 31, 2017. 2017 Spending Cap on equipment purchases = $2,000,000 This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true "small business tax incentive" (because larger businesses that spend more than $2.5 million on equipment won't get the deduction.) Bonus Depreciation: 50% for 2017 Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. Please Note> Bonus Depreciation is available for new equipment only; used equipment qualifies for Section 179 Deduction, but does not qualify for Bonus Depreciation Special Guests: Trey Crawford Diket’s Professional Drugs 1107 Jefferson Street Laurel 39442 Phone: 601-425-2527  Peter B Davison *ADVANTAGE FINANCIAL SERVICES, LLC* 221 Tunxis Road West Hartford, CT 06107 [pdavison@advantage-financial.com](mailto:pdavison@advantage-financial.com) website: [www.advantage-financial.com](http://www.advantage-financial.com/)  [860 233-7465](tel:(860)%20233-7465) *July 30, 2021* *RxSafe sponsors this episode of the Pharmacy Podcast to help educate pharmacy owners, directors, and pharmacy business stakeholders about the benefits of Section 179 Tax Deduction. * ## Medication Adherence and Beneficial Outcomes 2017 Deduction Limit = $500,000 This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for the tax year 2017, the equipment must be financed/purchased and put into service between January 1, 2017, and the end of the day on December 31, 2017. 2017 Spending Cap on equipment purchases = $2,000,000 This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true "small business tax incentive" (because larger businesses that spend more than $2.5 million on equipment won't get the deduction.)   Bonus Depreciation: 50% for 2017 Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. Please Note> Bonus Depreciation is available for new equipment only; used equipment qualifies for Section 179 Deduction, but does not qualify for Bonus Depreciation ---   ### “Section 179 can be used as a means of reducing your income by accelerating depreciation benefits. In essence, you'll get the benefit of tax savings and subsequently, it should have a positive impact on your future quarterly estimates for the next fiscal year."    ---   ![tax-reform-law](https://info.rxsafe.com/hs-fs/hubfs/tax-reform-law.jpg?width=400&name=tax-reform-law.jpg) ### About our Special Guests Trey Crawford of Diket’s Professional Drugs 1107 Jefferson Street, Laurel, MS 39442 Phone: 601-425-2527  Peter B Davison of *ADVANTAGE FINANCIAL SERVICES, LLC* 221 Tunxis Road, West Hartford, CT 06107 [pdavison@advantage-financial.com](mailto:pdavison@advantage-financial.com) website: [www.advantage-financial.com](http://www.advantage-financial.com/) Phone: 860-233-7465 #### CONTACT US [2453 Cades Way, Ste. 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