Tax Benefits

Section 179 Tax Information

We Can Help You Understand The Updates for Section 179
Section 179: tax incentive up to $1,040,000. Businesses exceeding a total of $2,590,000 of purchases in qualifying equipment will have the Section 179 deduction phase-out dollar-for-dollar. Additionally, the Section 179 cap will be indexed to inflation in $10,000 increments in future years. This tax incentive applies to both new and used equipment purchases.

Bonus Depreciation extended through 2022. Businesses of all sizes will be able to depreciate 100 percent of the cost of equipment acquired and put in service September 27, 2017 РDecember 31, 2022.

The Bonus Depreciation incentive is retroactive to September 27, 2017.

Please consult your CPA or Tax Accountant for further details.