Need equipment? Need to save money? The U.S. government wants to encourage businesses to buy equipment for their businesses. That’s right! And the IRS tax code permits businesses to deduct up to $139,000 of the full purchase price of qualifying equipment (and in some cases software) financed, leased or purchased up to $560,000 during the 2012 tax year. You can deduct up to $139,000 from your gross income.How much equipment are you planning to purchase this year? $560,000 is the most equipment you can purchase, finance, lease or purchase under Section 179. $139,000 is the 2012 maximum deduction allowed. As a bonus, if you finance, lease or purchase more than $560,000 in new equipment, a Bonus Depreciation amount of 50% is allowed. Unlike traditional depreciation methodologies, Section 179 allows business owners to write off on their tax return the entire amount of their equipment purchases in 2012 up to $139,000. The goal of Section 179 is to have businesses buy more equipment now to help move the economy along faster along with the business owner’s business.
For more information on Section 179 tax savings, please consult our website: What is Section 179?
For all of your financing or leasing needs, call US Capital at 866-590-8506. We look forward to hearing from you!