Breaking NEWS!
Senate passes Tax extender Bill! Which includes the $500,000 equipment depreciation deduction for 2016!
Jan 1, 2016 - The "Protecting Americans from Tax Hikes Act of 2015" (PATH Act) was passed by both the House and Senate and signed into law on 12/18/2015. This bill expanded the Section 179 deduction limit to $500,000.
Section 179 Deduction: Until further notice, Section 179 is permanent at the $500,000 level. Businesses exceeding a total of $2 million of purchases in qualifying equipment have the Section 179 deduction phase-out dollar-for-dollar and completely eliminated above $2.5 million. Additionally, the Section 179 cap will be indexed to inflation in $10,000 increments in future years.
50% Bonus Depreciation will be extended through 2019. Businesses of all sizes will be able to depreciate 50 percent of the cost of equipment acquired and put in service during 2015, 2016 and 2017. Then bonus depreciation will phase down to 40 percent in 2018 and 30 percent in 2019.
IMPORTANT: Section 179 for Current 2016 Tax Year (This Year)
Section 179 can provide you with significant tax relief for this 2016 tax year, but equipment and software must be financed and in place by midnight December 31, 2016.
Our programs qualify for a lease-purchase that can be 100% tax deductible. But as always check with your CPA for your specific business need.
Call us today for your next equipment purchase-
(800) 935-1048
IN ADDITION TO AGRICULTURE EQUIPMENT FINANCING FOR FARMERS & RANCHERS WE ALSO OFFER VERY COMPETITIVE FINANCING FOR WINERIES AND TASTING ROOMS! CALL US AT (559) 299-9095 FOR AN APPLICATION ON THIS PROGRAM!
