{"iri":"https://lexicon.financial/legal/tax/irs/Pub463/Section179Deduction","label":"Section 179 deduction","definition":"An election under Internal Revenue Code section 179 that lets a business expense the cost of qualifying tangible property in the year it is placed in service rather than depreciating it over several years. For 2025 the aggregate expense election is capped at $2,500,000 (reduced dollar-for-dollar above $4,000,000 in section-179 property placed in service), with an SUV-specific cap of $31,300.","license":"https://www.usa.gov/government-copyright","source":"irs","source_url":"https://www.irs.gov/publications/p463"}