It is the 4th Quarter of 2017 and the year will be over before you know it. Are you taking advantage of the Section 179 Tax Deduction for purchasing new equipment for your business?
Financing your new equipment before the end of the year may allow you to keep more of your money through Section 179 Tax Deductions.
What is Section 179?
Section 179 of the IRS tax code allows businesses to deduct the cost of certain types of equipment on their taxes. You must purchase the qualifying equipment before December 31, 2017. Ask your tax professional how Section 179 can work for your business.
Section 179 Deduction for 2017: $500,000.00
Qualifying purchases up to $500,000.00 may be deducted 100% the year it is put into service.
Bonus Depreciation; Maximum Qualifying Purchases: $2,000,000.00.
Once the maximum Section 179 deduction of $500,000.00 is exceeded, bonus depreciation kicks in at 50%, until you reach the maximum qualifying purchases of $2,000,000.00.
Note: The section 179 deduction applies to NEW and USED equipment whereas the bonus depreciation is only available for NEW equipment.
It’s the 4th quarter already. Time is running out!
Invest in your business today and improve your bottom line with Section 179 deductions.
Computer & Equipment Financing provides financing programs with competitive pricing, simple processing, same day funding and outstanding customer service, so get started with us today.
Call today to learn about this and our financing products
Not an authorized tax advisor and not giving Tax advice. The correctness of Information provided is not guaranteed. You must consult your tax advisor, visit www.irs.gov or contact the IRS helpline at 800.829.4933 to confirm if you qualify for this tax benefit.