As year-end approaches, don't overlook this option to reduce
your business taxes for 2013: accelerated write-offs for business asset
purchases. For example, the Section 179 immediate expensing deduction lets you
write off the cost of assets you purchase and place in service this year,
including vehicles, equipment, and software. For 2013, the maximum Section 179
deduction is $500,000. Another example is the "bonus" depreciation
deduction, which allows you to expense up to 50% of the cost of new assets,
including those that might not qualify for Section 179.
