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News Alert: Section 179 Increased to One Million for 2018

With the passage and signing into law of The Tax Cuts and Jobs Act, the deduction limit for Section 179 has increased to $1,000,000 for 2018 and beyond.

The limit on equipment purchases has increased to $2.5 million. Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also now includes used equipment.

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Qualifying Equipment
Qualifying Software

Try the updated 2018 Section 179 Calculator to see how this tax deduction affects your company.

Financing and Leasing Equipment

Using Section 179 with an Equipment Lease or an Equipment Financing Agreement might be the most profitable decision you make this year. Why? Because the taxes you save with the deduction will almost always exceed your cash outlay for the year when you combine a properly structured Equipment Lease or Equipment Finance Agreement with a full Section 179 deduction. It is a bottom-line enhancing tool that allows you to add new equipment and/or software to your business. 
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Section 179 always expires at midnight, December 31st. To take advantage of Section 179 this year, you must buy (or lease/finance) your equipment, and put it into use, by December 31st of this year.

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