One of the primary benefits of running a small business is utilizing a range of tax deductions, which can significantly lighten your fiscal responsibilities. These deductions can cover everyday business expenses like rent, utilities, office supplies, and professional services. Not to be overlooked, special deductions such as those outlined under Section 179 can be particularly valuable, allowing businesses to deduct the total purchase price of qualifying equipment or software in the year it is purchased—providing notable upfront tax relief.