Use this awesome deduction on new and used equipment. Your equipment must be financed/purchased (and put into service) between January 1, 2020 and the close of business on December 31, 2020.
Unlock Your Opportunities with Section 179
The Deduction Limit is $1,040,000
The Spending Cap
on Purchases is $2,590,000
This limit is the max that can be spent on your equipment before the deduction available to your company begins to reduce dollar-for-dollar. This is a special opportunity for small businesses as companies that spend more than $3,630,000 on equipment aren’t permitted the deduction.
Bonus Depreciation is 100%
An advantage for new and used equipment, Bonus Depreciation is usually taken after the Spending Cap is achieved.