How to Benefit from Section 179 Tax Incentives
Investing in Equipment Now Can Payoff in Big Tax Savings
• For buying or leasing equipment, $1 buyout leases qualify
• Application Only Fast Track Finance Program for up to $500,000
• We are manufacturing specialists
The Section 179 tax deduction allows small manufacturing companies to deduct the first $1,040,000 of equipment purchased from their taxable income. For companies purchasing (or leasing – with a $1.00 Purchase Option Lease) up to $2,590,000 of equipment, this deduction is available in full. The deduction phases out dollar-for-dollar from $2,590,000 to $3,630,000 and is not available for companies purchasing over $3,630,000.
100% Bonus Depreciation
The Law also allows 100% “Bonus Depreciation” on equipment placed in service during the year for which you are filing. This 100% “Bonus Depreciation” can be taken on new or used equipment. Note, you should always consult your accountant prior to making any purchase based on tax consequences.