Tax Law (Questions About Taxes)/Section 179 Question



I am also a fellow expert on all-experts, but in the Excel category.  I'm also a CPA, but I don't do taxes (private corporation financial statements).  I think I know the answer to my question, but I wanted an expert opinion :).

My wife and I purchased a veterinary practice on 1/2/2014.  With this purchase was about $30K in old equipment and furniture.  The value of this equipment was clearly stated, and individual listed, in the sales agreement.

Since we purchased this in 2015, am I allowed to take a full Section 179 deduction on this equipment?  

I believe this qualifies as eligible property because it is tangible.
It was acquired for a business use.
It was acquired by purchase from an unrelated 3rd party (the person who sold the veterinary practice - not a relative).
The property is not in the list of excepted property.

The only thing that makes me think it wouldn't be Section 179 property is the fact it was purchased second-hand and was part of a business purchase; however, I cannot find anything that would make that ineligible property.

Thanks for your help!


Thanks for your question.

The property is eligible for Sec 179 treatment. Although not new property, it is new to you and therefore qualifies.  Unfortunately, Congress did not extend the higher limits on Sec 179 into 2015, so unless they act again, there is a $25,000 limitation on Sec 179 for this year.  We can hope.

Hope this helps.

John Stancil, CPA  

Tax Law (Questions About Taxes)

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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