Tax Deduction for Equipment Purchases
Do you need new equipment for your business? The Section 179 tax benefit for equipment purchases can save your business a lot of money.
PATH, the Protecting Americans from Tax Hikes Act of 2015, includes a permanent extension of the Section 179 deduction. The deduction limit was raised from $25,000 to $500,000, and the spending cap on qualifying equipment purchases increased from $200,000 to $2 million. In addition, the bill allows businesses to depreciate 50% of the cost of eligible equipment purchased in 2015, 2016 and 2017. That depreciation amount will drop to 40% for 2018 and 2019.
Take Advantage of Section 179 to Grow Your Business
Don’t delay on the equipment updates and inventory expansion you need to keep your business moving forward. Blue Bridge can provide you with up to $500,000 in financing, quickly and with minimal paperwork. Our credit application only takes a few minutes, and you will get a decision within 4 hours. You can have funding in as soon as 24 hours!
The Section 179 tax deduction applies to many types of new and used equipment. We recommend that you consult with your tax advisor or business accountant prior to making a purchase.
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