Take Advantage of Year-End Tax Benefits on 2019 Equipment Purchases
Updated: Apr 6, 2020
You could save thousands of dollars on new and used equipment purchases in the U.S. if you take advantage of tax incentives the government created to encourage businesses to buy equipment and invest in themselves.
IRS Tax Code: Section 179
Maximize your purchasing power with Section 179 by deducting the full purchase price of qualifying equipment in the year it was put into service. This creates a larger initial expense deduction than using a standard depreciation method, which reduces your company's tax burden.
Most of the new and used (must be new to you) equipment your business purchases or finances will qualify for the Section 179 deduction:
Maximum amount that can be deducted is $1 million
Maximum amount of equipment purchased (and take the full deduction) is $2.5 million