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.

 

SECTION 179 EXAMPLE

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

 

Cited From: http://omnileasing.net/irs-section-179-allowance/#ixzz2lCtyyaNX

Onyx Graphics is offering hands-on classroom certification on their award-winning RIP Software. Each session provides increased knowledge and guidance in an interactive training environment. This program provides an in-depth working knowledge of ONYX Software to optimize operator productivity. Space is limited, register now! Date: September 6th – 7th, 2017 Time: 8:00 – 5:00 each day Cost: $395/per person. […]

Continue reading...

Be our guest at the 2017 SGIA Expo this October 10-12 in New Orleans. Mactac will feature innovative products you won’t want to miss. What’s more, experts and top executives will be on-hand to answer your questions and discuss new business opportunities. Register now for your free 2017 SGIA Expo pass, courtesy of Mactac, and […]

Continue reading...