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Section 179 Information


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News Alert: Section 179 Information for 2020

 

Section 179 deduction limit for 2020 has increased. The deduction limit for Section 179 is $1,040,000 for 2020. The spending cap on equipment purchases for 2020 is $2,590,000.

 

Further, the bonus depreciation is 100% and has been made retroactive to 9/27/2017. It is good through 2022. The bonus depreciation is generally taken after the spending cap has been reached, and includes new and used equipment.

 

See fully updated 2020 Section 179 Tax Calculator to see how this tax deduction affects your company. Check out the Section 179 Tax Deduction website for more information.


Maximize Your Machine Savings With Section 179

 

Based on a 21% tax bracket, savings are calculated using the base prices of the SSQ II, MACH II 5"/6" Combo, and WAV machines. Savings will vary depending on tax brackets and machine features.


See the IRS Fact Sheet Issued for Section 179

 

The IRS released Fact sheet FS-2018-9 provides info on Section 179 deductions including temporary 100 percent bonus depreciation, changes to depreciation limitations on vehicles used for business, new treatment of farm equipment, and the recovery period for real property. Read the new IRS Fact sheet here: New Rules and Limitations for Depreciation and Expensing under the Tax Cuts and Jobs Act

 

 

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