If you are planning to upgrade your old, expensive lighting to highly efficient, low maintenance LED, you should consider purchasing it before the IRS Section 179 tax deduction expires at the end of the year.
What is Section 179 and why is it important to you?
The 2017 IRS Section 179 tax depreciation schedule is a tax break given to your small-to-medium sized business that allows deduction of the full purchase price of equipment purchased – or financed – against your gross income. Obsolete equipment and outdated technology can negatively affect your business. This is a significant incentive for you and your company to make investments in purchasing equipment and growing your business. Depreciation is normally used by businesses to write off the value of the purchased equipment over the life of the asset. Using the IRS approved Section 179 deduction, you can write off up to $500,000 of this year’s equipment purchases against your 2016 taxes resulting in the USA government effectively paying up to 38% of the cost of the machine.
The equipment purchased must be purchased and placed in service by December 31, 2017 to qualify!
To learn more please visit our website at: https://lnkd.in/eg-r3tE
