What is Section 179?

 

Section 179 allows you to expense (write-off) 100% of the purchase price on qualifying capital equipment, during the year it is placed in service.  Dump trucks, flatbed trucks, box trucks, and many service trucks qualify. Visit www.dtitrucks.com to see qualifying equipment.

The available Section 179 deduction was DOUBLED to $500,000. This could positively impact both the cash flow and the growth of your business, by increasing your ability to cost-effectively place additional equipment into service.   2016 is the year to take full advantage of what could be a “once in a lifetime” opportunity to grow or start your business.

Section 179 applies to new or used equipment that is placed in service during the year.  Financed equipment still qualifies for the full deduction.  The advantage to financing equipment and then taking the Section 179 deduction is that you can deduct the full amount of the equipment, without paying the full amount this year. The amount you save in taxes can actually exceed the payments.

Section 179 can greatly reduce your tax burden, thus increasing your cash-flow.  These provisions can change yearly without notice, so it benefits you to take advantage of these generous tax codes while they’re available.

Section 179 offers small businesses a great opportunity to maximize their purchasing power. Most of the equipment your business will purchase, finance or lease qualifies for the deduction, so do your homework and verify that your company is leveraging these opportunities this year.

Disclaimer:  We at DTI Trucks are not accountants.  Please consult your accountant to take advantage of this current law before it expires.  Like us on facebook at  https://www.facebook.com/DTITrucks

Have a great day!

 

Roman Carson 

Visit http://www.section179.org for more information.

 

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