Take Advantage of Significant Savings with the Section 179 Tax Deduction
- Deduct 100% of the equipment purchase price from gross income during purchase year
- Utilize additional deductions for those who qualify for bonus depreciation
"Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It's an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves." - www.section179.org
Consider the impact of this tax savings for your business with this example:
| Example Equipment Invoice Cost | $25,000.00 |
| 1st Year Tax Write-Offs: | |
| Section 179 Deduction | $25,000.00 |
| Bonus Depreciation (50% after Sec. 179) | $0.00 |
| Normal 1st Year Depreciation | $0.00 |
| Total 1st Year Deductions | $25,000.00 |
| Tax Savings (assuming 35% tax bracket) | -$8,750.00 |
| Adjusted Equipment Cost To You After Section 179 Savings | $16,250.00 |
More about Section 179 Tax Deduction
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