Generally, buying it isn’t enough. Equipment usually needs to be placed in service by December 31 to count for this year. The IRS describes that as “ready and available for a specific use.”

What that means in practice can vary. Some CPAs consider equipment placed in service once it’s delivered and on-site; others look for it to be set up and in use. Your CPA can tell you how they apply the rule to your purchases.

Either way, shipping delays and end-of-year schedules can push equipment into the next year, so it’s smart to order well before December.