Great news for machinery buyers: Section 179 of the U.S. Internal Revenue Code has been restored to $500,000 for 2017. In a nutshell: Businesses can deduct up to $500,000 from their taxes on up to $2 million in qualifying equipment purchases. All purchases, financing, delivery and set-up must be complete before midnight on 12/31/2017 for both equipment and software. A bonus…