|Lower the True Cost of Purchasing your Business Equipment
Section 179 is the area of the IRS tax code created to help
businesses reduce their tax liability.
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Your business equipment or software MUST be put in place and in use by December 31, 2013 to qualify.
Under extended Section 179 limits established by the American Taxpayer Relief Act 2012 (H.R.8), businesses that purchase qualifying equipment in 2013, may immediately depreciate up to $500,000 of their new or used equipment costs. In addition, businesses acquiring qualifying (NEW) equipment may utilize an additional 50% BONUS depreciation allowance. Additional depreciation for both new and used qualifying equipment is allowed with use of the standard first year depreciation allowance (under MACRS rules, 20% for equipment with a 5 year class life as defined in IRC 168).
Please Note — To take advantage of the 2013 tax incentives, your business equipment or software must be put in use by year end. 2013 limit on capital purchases is $2,000,000.