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Equipment Buyers Tax Benefits

The Benefits are Endless

Section 179 was created specifically for small and medium-sized businesses. Any business that purchases and/or finances less than $1,000,000 in qualifying equipment (new or used) during the 2020 tax year should qualify for the IRS 179 Deduction.

You can potentially deduct the full amount of equipment you financed this year. For more information contact your tax professional and see how you can save.

Financing allows you to save your cash for emergencies or unforeseen costs! You can also make money while working to pay off your equipment.

The amount you write off in taxes can potentially exceed profits, which allows you to reinvest in your business allowing you to continue to grow.

Here’s How It Works

Say you bought a $10,000 piece of equipment for your business. By taking advantage of Section 179, you can deduct the entire $10,000 from your net income in the first year you use it. So, assuming you are in a 35% tax bracket, you will have a tax savings of $3,500, meaning a lowered cost of equipment to $6,500!

Enter your equipment cost to show your potential savings.