section179NH

Utilize the Section 179 Tax Deduction before the end of the year by investing in essential equipment for your fleet.

How Does Section 179 Work?

Section 179 serves as a tax benefit enabling businesses to deduct the complete purchase amount of eligible equipment bought or financed within the tax year. This initiative, established by the U.S. government, aims to stimulate businesses to invest in capital equipment, enhance their operations, and boost revenue.

2023 Numbers at a Glance

$1,160,000

Deduction Limit

The deduction works for new and used equipment purchases. Qualified financing is available for Section 179 as well.

$4,050,000

2023 Spending Cap on Equipment

This sets the limit on equipment spending before the deduction for your company starts decreasing dollar for dollar. Bonus Depreciation is an option for companies who spend more than this limit.

80%

Bonus Depreciation

Bonus Depreciation is mostly taken by companies who have spent over the cap. It is available for both new and used equipment.

For more information visit SECTION179.ORG

*The Section 179 deduction has exceptions. Not all equipment purchases qualify. To take the deduction for current tax year, the equipment must be paid for in full, physically delivered, and put into service between January 1 and the end of the day on December 31 of this year to meet federal guidelines.

Intro

 

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