JANUARY 2014 UPDATE: The Section 179 calculator and all information relating to this tax provision is based on 2013 IRS numbers. Once Congress finalizes the 2014 Section 179 tax deduction limit, we will update our website.

Calculate Your Savings up to $500,000:

Results

Section 179 Deduction:

Total first year deduction:

Cash savings on equipment purchase (assuming a 35% tax bracket):

Lowered cost of equipment after tax savings:

Always contact your tax advisor to verify tax or accounting issues or visit www.irs.gov for specific details.

Section 179 Tax Deduction for 2013

The Section 179 deduction limit was increased to $500,000 on qualifying new or used equipment and certain software that is purchased and placed into service from January 1, 2013 to January 31, 2013. This is a result of the American Taxpayer Relief Act (the fiscal cliff bill). 

Successful businesses take advantage of legal tax incentives to help lower their operating costs. The Section 179 deduction is a tax incentive that is easy to use, and gives businesses an incentive to invest in themselves by adding capital equipment. In short, taking advantage of the Section 179 Deduction will help your business keep more capital, while also getting needed equipment and software.

Always contact your tax advisor to verify tax or accounting issues or visit www.irs.gov for specific details.