Buy up to $500,000 in equipment -- Uncle Sam says,
"Deduct it all!"*
Shop owners:
Now is the time to reconsider those equipment purchases that you've been putting off!
Right now Tax Code Section 179 allows small and medium sized businesses to deduct the full amount of the purchase price of equipment - up to $500,000! Section 179 can even make buying new equipment profitable for the tax year because the tax savings can exceed the first year’s payments.
What equipment qualifies?
Machinery, many vehicles, computers and software, office machines and furnishings, and other tangible equipment - like vinyl sign cutters, wide format color printers, laminators, laser engravers, screen printers, the software to run the equipment and more! But, to get this deduction, the equipment needs to be purchased and put into use during the 2010 calendar year.
When to buy and
start using your equipment?
Properly planning
the timing of your equipment purchases can produce
significant tax savings. For example, the equipment
expensing election applies whether you purchase
and start using a given piece of equipment
during the first month of your tax year, or the last
month. So, you can still buy and start using your equipment
NOW to get tax savings for ALL of 2010!
As always, consult a tax professional or the IRS
with specific tax questions and/or advice. And be sure to check with your state tax agency. They may also
provide some tax-saving incentives.
For more information, please visit section179.org
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