Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment and software up to an annual limit.In 2024, for example, taxpayers can expense up to $1,220,000 of qualified assets.This election can apply to many types of tangible personal property, such as machinery, equipment, and off-the-shelf software, which are used predominantly in your business.Limits on Section 179 ExpensingAs attractive as Section 179 may seem, there are limits.For tax year 2024, the maximum investment limit is set at $3,050,000.If your business places more than this amount in service, the amount you can expense is reduced dollar-for-dollar over this threshold.In addition to the dollar and investment limits, the amount of your Section 179 deduction cannot exceed your taxable business income for the year.This means that even if your business invests heavily in qualified property, the deduction could be limited by the business’s profitability.Also, not all property qualifies for Section 179.Real property, like buildings and structural components, generally does not qualify unless it is "qualified improvement property."

.-- Just audited by IRS this summer for first time ever and had no issues!

Private placements are inherently risky by that very fact - they are not regulated or audited  to the degree that a publicly traded company is.  

Im a college student currently working on my capstone project where Im aiming to build a property management software.

Assuming tenants can place their maintanence request online, is that through your property management software (e.g.

The only downside for me is that they use a credit card which my property management software charges a fee for.

Hey congrats this is just like the DA who becomes a defense lawyer or an IRS agent who switch's sides and represents those being audited  etc etc..

I'm already using RentRedi to screen tenants, receive rent, deliver messages, but I wanted to know if anyone had any suggestions on either a software or virtual assistant type platform that helps them automate maintenance requests...

Under audit, the auditor will seek substantiation that what you reported was truthful.

Anyone can figure out how to pull those reports in any PM software.