Jan 2, 2018 –   With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on equipment purchases likewise has increased to $2.5 million.

Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also now includes used industrial equipment.

Answers to the Three Most Common Section 179 Questions

How much can I save on my taxes in 2018?
It depends on the amount of qualifying equipment and software that you purchase and put into use. Use the handy Section 179 calculator that’s fully updated for 2018, and includes any/all increases from any future legislation.

What sort of equipment qualifies in 2018?
Most tangible business equipment qualifies. Click here for qualifying property.

When do I have to do this by?
Section 179 for 2018 expires midnight, December 31, 2018. If you wish to deduct the full price of your equipment from your 2018 taxes and take advantage of the new higher deduction limits, it must be purchased and put into service by then.

Many businesses are finding Section 179 Qualified Financing to be an attractive option in 2018, especially since the expected Federal Discount Rate increases don’t leave much time for action. Please apply today.