I started my home remodeling business little over a year back. Last year was first full year in business. I generated a little over $45000. Besides the normal business expenditure, I also bought a second had truck. This is a 100% business use vehicle. The truck cost $11700. I have financed $8700 of the vehicle. Is there a way to deduct this truck under the section 179 rule? And if yes, do I get to deduct the full cost or what I have paid for so far? If I can't deduct it under that rule, what other options are open to me? Can I also get to deduct the cost of operating it?

Thanks in advance.