Most successful businesses take advantage of legal tax incentives to help lower their operating costs. Did you know that you can immediately deduct the full purchase price of qualifying equipment and/or software? Section 179 of the IRS tax code lets businesses do just that.
Much of the equipment businesses purchased to conform to COVID-19 restrictions will qualify for the Section 179 tax Deduction.
2021 is The Best Year Ever for Section 179
The 2021 Section 179 deduction has been raised to $1,050,000 (that’s one million, fifty thousand dollars). This means your company can buy, finance, or lease new or used equipment, and write off the full purchase price on your 2021 taxes. This can result in substantial savings.
To use Section 179 for 2021, the equipment must be purchased (or financed/leased) and put into service by midnight 12/31/2021.
Curious how much you can save with Section 179 on your own purchase?
View the 2021 Section 179 Tax Deduction Calculator via the link below to get an estimated lowered cost of equipment based on your tax bracket. This deduction is easy to receive and can greatly help your bottom line by lowering the amount you pay, all you need to do is buy (or finance/lease) the equipment, and use a special IRS form to submit. Keep in mind, since this is not a direct discount on the cost of your equipment, it can be paired with other promotional pricing.
Don’t miss this opportunity. Take advantage of this “use-it-or-lose-it” tax write-off today. Click below for more details and to calculate your savings.