Section 179 (2017)Are you eligible to write off $500,000 of qualifying new capital equipment?
Thanks to IRS Section 179 guidelines of the Federal Tax Code, many 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 for service. Qualifying 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.
- Major tax relief for businesses that invest in capital
- The Section 179 deduction can be taken whether the qualified equipment is financed or purchased
At John Henry Foster, we can partner with you to assess your capital equipment needs and assist you on how to qualify and receive these important tax benefits. Ask us how we can help you and your business take full advantage of this stimulus package.
Fill out this form so we can help you take full advantage of this stimulus package: