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:
Many businesses are finding Section 179 Qualified Financing to be 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 today.