Have you heard about the Section 179 tax deduction? Section 179 was designed for small business to help relieve some of the costs of new or used heavy equipment for their companies. On December 21st, 2015 Section 179's limit was raised from $25,000 to $500,000! There's even more good news about Section 179 as well! Congress also passed this bill to make it permanent for years to come! If your company happens to miss the deadline for 2015, don't worry! You'll be able to take advantage of this great deal for yeras to come!
Worried about the truck you're interested in not qualifying? Every truck on I-80 Equipment's lot qualifies for the Section 179 deduction! Because of Section 179 companies can afford nicer trucks but often do not realize this important part of tax season. Section 179 allows companies to deduct the FULL PURCHASE PRICE of the vehicle come tax season, which creates maximum savings.With a $2,000,000 spending limit on equipment purchases, nearly all of I-80 Equipment's customers qualify to take advantage of this great deal! Our sales staff at I-80 Equipment is fully equipped to handle any questions you may have as well as guide you through the process.
What should be noted with Section 179 is that the equipment must be used for business purposes more than 50% of the time. Don't think that you can make a purchase before the end of 2015? Section 179 has been in place since 2008 and should be available to utilize in 2016 as well.There is also the special deduction zones that qualify for increased deductions which are, the New York Liberty Zone, Enterprise Zone and Renewal Community Businesses, and the Gulf Opportunity Zone (areas affected by recent Gulf Hurricanes).
The best thing about Section 179? It's extremely simple to utilize! All it requires is purchasing the equipment and using a special tax form. Any tax preparer would be able to complete the proper steps without any issues and is easy enough to be completed by those who are not tax preparers as well! So what are you waiting for? Contact your I-80 Equipment Sales Representative today and take advantage of this great incentive!