First, you mean a "business loss", not a NOL. In tax terms, a NOL means the final cumulative income on your ENTIRE tax return ends up being negative. That means if your other income on your tax return is larger than your "business loss", you don't have a "NOL".
Next, do you WANT to have that business loss offset your other income? Although that would definitely lower your income taxes this year, it is likely NOT the best long-term result. In fact, in most cases you should be trying to do the opposite; minimize the deduction to minimize the loss.
If you use the entire expense this year, it will reduce income taxes. But if you spread out the deduction over several years, the deduction will offset your business profit in future years, where it can reduce BOTH income tax AND self employment tax.
Obviously circumstances vary tremendously, but in many cases, the better long-term method would be to (1) NOT use Section 179, (2) elect OUT of Bonus depreciation, and maybe even (3) choose to depreciate using Straight-Line depreciation rather than accelerated (200%DB) depreciation.
