2015 SECTION 179 has increased to $500,000!

Congress passed "The Protecting Americans from Tax Hikes Act of 2015". The tax deduction limit has been increased to $500,000 for 2015. The Section 179 deduction is a tax incentive that is easy to use, and gives businesses an incentive to invest in themselves by adding equipment. Taking advantage of Section 179 will help your business keep more capital, while getting needed equipment and software. See how much the tax deduction can save your company.

Calculate Your Savings:

Results

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 Details:

  • Most tangible business equipment qualifies - it must be purchased and put into use between January 1 and December 31 of the tax year you are claiming.
  • Section 179 for 2015 expires at midnight on 12/31/15.
  • You can take full advantage of the deduction when leasing equipment, which is a preferred strategy for many businesses.
  • You elect to take the deduction when you file your tax return, simply fill out Part 1 of IRS form 4562 or contact your tax advisor.

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