THE SECTION 179 DEDUCTION AT A GLANCE:
2016 Deduction Limit = $500,000
This deduction is good on new and used equipment, as well as off-the-shelf software. This limit is only good for 2016, and the equipment must be financed/purchased and put into service by the end of the day, 12/31/2016.
2016 Spending Cap on equipment purchases = $2,000,000
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true “small business tax incentive”.
WHAT THIS MEANS FOR YOU:
It gives you the ability to:
• finance or lease the concrete forms that you need!
• realize significant tax savings by buying now.
• gain benefits even if financing or leasing.
• invest in your business and save in taxes.
Reference source: www.Section179.org. For more details on limits and qualifying equipment, as well as Section 179 Qualified Financing, visit their website. Remember, financing is available through Harris Partner Direct Capital.