Don’t Miss IRS Section 179 Deductions
It’s that time of year again! Don’t wait to take advantage of the IRS Section 179 tax deductions for new and used business equipment. To qualify for Section 179, you must finance and use the equipment by the end of the day on December 31, 2017. Read on for more information.
2017 Equipment Deductions & Bonus Depreciation
What is IRS Section 179? It allows many small and medium-sized businesses to write off thousands of dollars at the end of the year of the purchase. And you can too by investing in your business’s future growth with up-to-date equipment.
The deduction limit for IRS Section 179 in 2017 is $500,000 with a $2,000,000 threshold for the total amount of equipment purchased. In addition, Section 179 also offers a “bonus first year depreciation” on qualifying equipment. Section 179 sets the current bonus depreciation at 50% of the cost of new equipment through the 2017 tax year. This means that if you reach the deduction limit of $2 million in equipment purchases, you can still take a bonus depreciation on the rest. Bonus depreciation only applies to new equipment and doesn’t occur every year, so make sure you take advantage of it!
We have a huge number of new and used business equipment that qualify for Section 179. Some of our solutions include high density shelves, automated vertical lifts and carousels, compact pallet racks, and much more.
Contact Us for More Information
Southwest Solutions Group® wants to help you make sure you get all of the tax deductions you qualify for this year. We can help you find qualifying equipment before time is up. To find out how we can help, call us at 1-800-803-1083 or send us a message today.
The post IRS Section 179 Tax Deductions for 2017 Business Equipment appeared first on INNOVATIVE STORAGE SOLUTIONS.