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Final Days to take Advantage of Section 179 Tax Break

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UPDATE: This has been extended into 2017. More details: http://www.section179.org/

You may be eligible for a deduction worth up to $500,000 thanks to the Section 179 deduction for new and used equipment for your business. The savings are only good for 2016. The equipment has to be financed or purchased and put into service by New Year’s Eve 2016, so don’t hesitate to call us now.

2016 Deduction Limit is $500,000

This limit, available for both new and used equipment, is only good for 2016. The equipment must be financed or purchased and put into service by December 31.

2016 Spending Cap is $2,000,000

This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company is reduced on a dollar for dollar basis. This spending cap makes Section 179 a small business incentive.

Bonus Depreciation is 50% for 2016

Bonus Depreciation is normally taken after the Spending Cap is reached. The Bonus Depreciation is available for new equipment only.

For more questions answered, visit vischeck.net/ or section179.org, the official resource for Section 179 questions.

To reach a VIS representative through online chat, simply visit vischeck.net. You can also reach the VIS team at info@vischeck.net or 866-847-8721.

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