This year, you can write off the first $102,000 of equipment you purchase. Writing off the cost of equipment purchases instead of claiming depreciation over its useful life is known as the 179 deduction.

There is a catch, however. To claim the 179 deduction, you must purchase the equipment and place it into business use the same year. You say that you bought the equipment this year, but won't start working until next year. Based on that one fact, it appears you'll need to begin depreciating the cost of your equipment next year, over 5 or 7 years, and won't be entitled to the 179 deduction.

I'd need to know more about your situation to give you a more specific answer.

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