Don’t miss out on the Section 179 Tax Deduction for 20...
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1.877.237.7287 www.redthreadfinancial.com A TAX BENEFIT IS WAITING. Don’t miss out on the Section 179 Tax Deduction for 20 20. What is Section 179? Carrie Radloff carrie@redthreadfinancial.com Mobile: 507-828-1039 CONTACT: Section 179 of the IRS Code was enacted to help small businesses by allowing them to take a depreciation deduction for certain assets (capital expenditures) in one year, rather than depreciating them over a longer period of time. ere is a clear benefit to taking the full deduction for the cost of the item immediately, rather than being required to spread out the deduction over the item’s useful life. 179 & Financing? By financing an equipment need, you can dramatically lower your net investment required to purchase the equipment while preserving your cash and maximizing cash flow. Calculate Your Savings Cost of Equipment & 1st Year Deduction Potential Tax Savings Assuming 25% Tax Bracket Net Equipment Investment PROGRAM DETAILS: • The deduction limit for Section 179 is $1,040,000 – if you finance or lease a piece of equipment, you can deduct the full purchase price up to $1,040,000. • • The 2020 Section 179 deduction threshold for total amount of equipment that can be purchased is $2,590,000. 100% bonus depreciation is in effect through 2022, retroactive to 9/27/2017 and now includes used equipment purchases. *Red Thread Financial does not provide legal, tax, or accounting advice. Please contact your tax advisor to inquire about the specific impact to your business. Or visit www.irs.gov or the IRS helpline at 800-829-4933.
Transcript of Don’t miss out on the Section 179 Tax Deduction for 20...
1.877.237.7287www.redthreadfinancial.com
A TAX BENEFIT IS WAITING.Don’t miss out on the Section 179 Tax Deduction for 20 20.
What is Section 179?
Carrie [email protected]: 507-828-1039
CONTACT:
Section 179 of the IRS Code was enacted to help small businesses by allowing them to take a depreciation deduction for certain assets (capital expenditures) in one year, rather than depreciating them over a longer period of time. There is a clear benefit to taking the full deduction for the cost of the item immediately, rather than being required to spread out the deduction over the item’s useful life.
179 & Financing?By financing an equipment need, you can dramatically lower your net investment required to purchase the equipment while preserving your cash and maximizing cash flow.
Calculate Your SavingsCost of Equipment &
1st Year Deduction
Potential Tax Savings Assuming 25% Tax Bracket
Net Equipment Investment
PROGRAM DETAILS:
• The deduction limit forSection 179 is $1,040,000 – ifyou finance or lease a piece ofequipment, you can deductthe full purchase price up to$1,040,000.
•
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The 2020 Section 179deduction threshold for totalamount of equipment that canbe purchased is $2,590,000.100% bonus depreciationis in effect through 2022,retroactive to 9/27/2017 andnow includes used equipmentpurchases.
*Red Thread Financial does not provide legal, tax, or accountingadvice. Please contact your tax advisor to inquire about thespecific impact to your business. Or visit www.irs.gov or the IRShelpline at 800-829-4933.
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