Save Big on Equipment Purchases in 2016 With Section 179
Date Posted: 8/18/2016
Section 179 tax deduction incentives provide opportunity to gain significant value from packaging related machinery purchases!
The first tax benefit, from Section 179 of the IRS tax code, allows businesses to deduct up to $500,000 on the cost of new and used equipment purchased in 2015, 2016, and beyond. As of 12/18/15, until further notice, Section 179 is permanent at the $500,000 level.
The second benefit is an immediate 50 percent bonus depreciation on new equipment placed in use through December 31, 2015, 2016, and 2017. The bonus depreciation will then phase down to 40% in 2018 and 30% in 2019.
Some of the equipment distributed by R.V. Evans Company that qualifies for Section 179 tax incentives includes:
For more information about the Section 179 tax deduction, visit https://www.irs.gov/publications/p946/ch02.html and consult your tax advisor to determine the specific impact to your business.