With 2018 creeping
up on us, let’s talk about tax deductions. Before you know it 2017 will come to
an end and it’s not too late to take advantage of the Section 179 tax
deduction. This deduction is good on new and used equipment financed/purchased
and put into service by 12/31/2017.
What is the Section 179 Deduction?
Basically, the Section
179 deduction is an incentive created by the U.S. Government for small
businesses to invest in themselves, although large businesses can benefit as
well. It allows businesses to deduct the full purchase price, of qualifying
equipment, from your gross income. The total amount available for write off is
$500,000 on a spending cap of $2,000,000 in equipment purchases made in 2017.
Here is an example
of how Section 179 works:
To find out all the
ins and outs of Section 179 and the answers to all your questions, visit the
official website at www.section179.org
. There is also a free calculator to give you
an estimate of how much money you can save. See the handy Section 179 Calculator
fully updated for 2017, and includes any/all increases from any newly enacted
Many businesses are finding Section 179 Qualified Financing
an attractive option in 2017, especially since the year-end increases don't
leave much time for action. Please apply today.
Keep in mind the Section 179 Deduction can be applied to
purchases on any capital equipment like the Service Truck Bodies from
Fleetwest. To see the complete Fleetwest Line visit our website at www.Fleetwest.net
and get a quote