IRS Section 179 and Bonus Depreciation<\/em><\/strong><\/p>\n
The deduction limit for Section 179 is $1,000,000.<\/strong><\/p>\n \u2022 This means that if you buy (or finance) a piece of equipment, you can deduct the Full Purchase Price (up to $1,000,000) from your gross income.<\/p>\n \u2022 This means that you can purchase more equipment and still have the benefit of the Section 179 deduction.<\/p>\n \u00a0<\/p>\n BONUS DEPRECIATION:<\/strong> \u2022 Under Modified Accelerated Cost Recovery System (MACRS) Bonus Depreciation has increased first-year depreciation deduction to 100% (vs. 50%) of the adjusted gross basis of qualified property.<\/p>\n \u2022 This goes into effect for assets placed in service after September 27, 2017 and before January 1, 2023.<\/p>\n \u2022 Another significant change under the new tax law, is you can use bonus depreciation for purchases of new or used property. Under prior law, you could only use bonus Call us (919) 776-7737<\/strong> or fill out the request a quote form on our website to take advantage of this program.\u00a0<\/p>\n *Credit & equipment restrictions apply. This program does not assume your company will qualify to take advantage of the IRS Section #179 depreciation schedule which allows rapid first year depreciation of certain assets acquired. The amount of previous During the final quarter of the calendar year, many businesses will look to reduce their annual tax bill to Uncle Sam. We encourage you to check out the benefits of IRS Section 179. Section 179 allows customers to purchase or finance (lease to own) capital equipment up to $ 1,000,000, and be able to deduct\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[93],"class_list":["post-1513","post","type-post","status-publish","format-standard","hentry","category-general","tag-awtx"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/posts\/1513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/comments?post=1513"}],"version-history":[{"count":1,"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/posts\/1513\/revisions"}],"predecessor-version":[{"id":1515,"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/posts\/1513\/revisions\/1515"}],"wp:attachment":[{"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/media?parent=1513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/categories?post=1513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.centralcarolinascale.com\/blog\/wp-json\/wp\/v2\/tags?post=1513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The 2019 Section 179 deduction threshold for total amount <\/strong>of equipment that can be purchased is $2,500,000.<\/strong><\/p>\n
100% for 2019 New and Used Equipment Allowed<\/strong><\/p>\n
depreciation for new property.
<\/p>\n![\"weigh-tronix](\"https:\/\/www.centralcarolinascale.com\/blog\/wp-content\/uploads\/2019\/10\/weigh-tronix-truck-scale-leasing-program.jpg\")
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depreciation your company may have used may affect your ability to utilize the elections. Please consult your tax advisor or accountant for additional information. Equipment must be purchased and placed in service by 1\/1\/2023.<\/p>\n","protected":false},"excerpt":{"rendered":"