Additional Year-End Tax Advantages: IRS Section 179

Located in the USA? Thinking about acquiring and financing new equipment? If so, you have until December 31, 2013 to take advantage of IRS Section 179 before it’s dramatically reduced in 2014.

Section 179 is a special tax deduction allowing you to recover all or part of your equipment cost in the year it’s put into service. Equipment must be for business use. This is a method to quickly write-off the equipment instead of depreciating the equipment over its lifespan. In 2013, companies are allowed to write-off as much as $500,000 of equipment acquired over the course of the year. Always consult your tax advisor for complete details.



Equipment Cost $80,000
= Financed Amount  $80,000
Section 179 Deduction   $80,000
Total First Year Deduction   $80,000
2013 Tax Savings (assuming 35% tax bracket)   $28,000
Actual Cost of Equipment adjusted for Section 179 Tax Savings     $52,000
Total First Year Tax Savings 35%       $28,000


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