When you finance your equipment purchase you can deduct the full amount of that purchase without paying the full amount in that year.

The tax savings when compared to the payment total are usually in your favor. A monthly payment is far more affordable than a lump sum tax bill. In addition, the revenue producing asset you are financing will do just that, bring in additional revenues.

Now is the time to consult your tax professional about qualifying depreciation deductions and consider financing your year-end equipment purchases.

Section 179 at a glance for 2022:

2022 Deduction Limit = $1,080,000
This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2022, the equipment must be financed or purchased and put into service between January 1, 2022 and the end of the day on December 31, 2022.

2022 Spending Cap on equipment purchases = $2,700,000
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true “small business tax incentive” (because larger businesses that spend more than $3,780,000 on equipment won’t get the deduction.)

Bonus Depreciation: 100% for 2022
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. The Bonus Depreciation is available for both new and used equipment.

This information is provided by www.Section179.org. Accuracy is not guaranteed or intended to offer any tax advice. Please consult with a qualified tax advisor concerning your specific situation.

Need a tax deduction in 2022?

Section 179 at a glance for 2022:

2022 Deduction Limit = $1,080,000
This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2022, the equipment must be financed or purchased and put into service between January 1, 2022 and the end of the day on December 31, 2022.

Bonus Depreciation: 100% for 2022
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. The Bonus Depreciation is available for both new and used equipment.

This information is provided by www.Section179.org. Accuracy is not guaranteed or intended to offer any tax advice. Please consult with a qualified tax advisor concerning your specific situation.

Call us to help with your year-end equipment financing!

Privacy & Disclosures

Need a tax deduction in 2022?

Section 179 at a glance for 2022:

2022 Deduction Limit = $1,080,000This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2022, the equipment must be financed or purchased and put into service between January 1, 2022 and the end of the day on December 31, 2022.

Bonus Depreciation: 100% for 2022Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. The Bonus Depreciation is available for both new and used equipment.

This information is provided by www.Section179.org. Accuracy is not guaranteed or intended to offer any tax advice. Please consult with a qualified tax advisor concerning your specific situation.

Call us to help with your year-end equipment financing!

Privacy & Disclosures

2022 Deduction Limit = $1,080,000
This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2022, the equipment must be financed or purchased and put into service between January 1, 2022 and the end of the day on December 31, 2022.

Bonus Depreciation: 100% for 2022
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. The Bonus Depreciation is available for both new and used equipment.