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Apostrophes 101 This small mark has two primary uses: to signify possession or omitted letters. Thanks to a tax rule known as Section 179, most small business owners can fully deduct the cost of equipment without going near those complex depreciation laws. But you still have to complete Form 4562, and then you have to transfer the amount of your Section 179 deduction from Form 4562 to your main business income tax form, whether that be Schedule C (sole proprietorship), Form 1065 (partnership), Form 1120 (regular corporation) or Form 1120S (S corporation). Here's how to do that:
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