Tax season is upon us179 Tax Deduction Limits for 2020:The Section 179 Deduction for 2020 is $1,040,000. This means your company can deduct the full cost of qualifying equipment, up to $1,040,000, from your 2020 taxes. This deduction is good until you reach $2,590,000 in purchases for the year 2020. Speak with your...