6 Things You Should Know Regarding Section 179 and Your Equipment Lease

  1. Section 179 is an IRS law that allows U.S. businesses to deduct all or part of the purchase price of their business equipment purchase.
  2. Not all equipment qualifies. Examples of qualified equipment include: Computers, machinery, manufacturing tools and equipment, business trucks and vehicles, software, office equipment, signage, testing equipment, ag and construction equipment.  What doesn’t qualify includes: air conditioning units, bridges, elevators/escalators, landscaping, fencing, and buildings. Consult your accountant for specifics.
  3. Each year the amount of Section 179 Tax Deduction has been going down and is expected to decrease to $25k in 2014.  Currently it’s at $500k.
  4. Bonus depreciation is at 50% for 2013
  5. Equipment leasing and financing was a $628 billion industry in 2012.
  6. 80% of U.S. businesses lease equipment.

Take advantage of section 179 today. Get the ball rolling on your equipment lease now by getting a free quote! https://axactcapital.com/commercial-capital/get-a-free-quote/

Bill Miller