Important Tax Deduction For Equipment
IRS Section 179
Thanks to IRS Section 179 guidelines of the Federal Tax code, businesses (large or small) investing in new equipment may be eligible to deduct the full purchase price of the equipment in the year it is placed in service. Qualifying new equipment of up to $500,000 annually is allowed, with the full deduction taking place in the current tax year as opposed to spreading it out over the life of the equipment. Please contact your tax advisor to see if your business qualifies for the deduction.
Why Act Now?
- Major tax relief for businesses that invest in capital
- The Section 179 deduction can be taken whether the qualified equipment is financed or purchased
Would you like a further explanation how the Section 179 stimulus works and to see if you qualify? Click here. You can also contact your account manager at 651.452.8452 or visit us at John Henry Foster, 3103 Mike Collins Drive, Eagan, MN 55121.
As a leading provider of premium quality compressed air and automation solutions since 1938, John Henry Foster delivers customized automation products and design-to-build solutions to clients in Minnesota, Wisconsin, North Dakota, South Dakota and northern Iowa. Our talented and innovative employees serve customers in virtually every industry that utilizes motion control technology and power generation.