IRS SECTION 179

Optimizing Tax Benefits: Leasing & Section 179 Strategies for 2023

Contemplating whether to purchase or lease equipment this tax year? Our Section 179 Deduction Calculator for 2023 is a crucial tool for making informed decisions in light of the drastic changes in deduction limits. Uncover potential savings and explore how Innovative Capital Corp can enhance your financial strategy.

IRS SECTION 179

Section 179 Deduction Calculator updated for 2024

Are you considering whether to purchase or lease equipment in the current tax year? This Section 179 Deduction Calculator for 2024 may help in your decision. The changes in the Section 179 Deduction limits for 2024 are drastic, and will save your business a lot of money.

Cost of Equipment, Vehicles, and/or Software:

Section 179 Deduction:
0.00
60% Bonus Depreciation Deduction:
(on any remaining amount above $1,220,000)
0.00
Normal 1st Year Depreciation:
0.00
Total First Year Deduction:
0.00
Cash Savings on your Equipment Purchase:
(Assuming a 35% Tax Bracket)
0.00
Lowered Cost of Equipment, Vehicles, and/or Software after Tax Savings:
$ 0.00

This calculator presents a potential tax scenario based on typical assumptions that may not apply to your business. This page and calculator are not tax advice. The indicated tax treatment applies only to transactions deemed to reflect a purchase of the equipment or a capitalized lease purchase transaction. Please consult your tax advisor to determine the tax ramifications of acquiring equipment or software for your business.

Important Update for Tax Year 2024

Jan 1, 2024 - Using Section 179 and/or Bonus Depreciation with an Equipment Lease or Equipment

Finance Agreement might be the most profitable decision you make in 2024.

The amount you deduct will exceed your cash outlay for 2024 when you combine (i) a properly

structured Equipment Lease or Equipment Finance Agreement with (ii) a full Section 179 deduction.

It is a bottom-line enhancing tool (plus, you get the new equipment and software you're adding to

your business).

Financing & Section 179

Leasing equipment and/or software with the Section 179 deduction in mind is a preferred financial

strategy for many businesses, as it can significantly help with not only cash flow, but with profits as

well.

Equipment & Software Leasing - Non Tax / Capital Leases

The main benefit of non-tax capital leases is that you can still take full advantage of the Section 179

Deduction, yet make smaller payments. With a non-tax capital lease you can acquire and write-off up

to $1,220,000 worth of equipment this year, without actually spending $1,220,000 this year. Small

businesses managing cash flow can leverage a non-tax capital lease to minimize out-of-pocket cash

and still take the full Section 179 Deduction.

One example of non-tax capital leases includes a & "$1 Buyout Lease" & and a "10% PUT (Purchase

Upon Termination Lease)". In many cases, the amount you save in taxes will be MORE than the total

of your first year's payments.

How much money can Section 179 save you?

The new Section 179 Deduction limits will have a real impact on your equipment costs. Here's an

easy to use calculator that will help you estimate your tax savings. Simply enter in the purchase

price of your equipment and/or software, and let the calculator take care of the rest.

Calculation Using the Section 179 Calculator

Using a $35,000 equipment cost for a sample calculation shows how taking advantage of the

Section 179 Deduction can significantly lower the true cost of the equipment purchased, financed or

leased. In the example, $35,000 in equipment purchased has a true cost of $22,750. That's $12,250

added to your bottom line, which is substantial.

In order to qualify for the Section 179 Deduction, the equipment must be purchased, financed or

leased and put into service by December 31, 2024. Feel free to contact us 888-869-0070 with any

questions.

IRS SECTION 179

Section 179 Deduction Calculator updated for 2024

Are you considering whether to purchase or lease equipment in the current tax year? This Section 179 Deduction Calculator for 2024 may help in your decision. The changes in the Section 179 Deduction limits for 2024 are drastic, and will save your business a lot of money.

Cost of Equipment, Vehicles, and/or Software:

Section 179 Deduction:
0.00
60% Bonus Depreciation Deduction:
(on any remaining amount above $1,220,000)
0.00
Normal 1st Year Depreciation:
0.00
Total First Year Deduction:
0.00
Cash Savings on your Equipment Purchase:
(Assuming a 35% Tax Bracket)
0.00
Lowered Cost of Equipment, Vehicles, and/or Software after Tax Savings:
$ 0.00

This calculator presents a potential tax scenario based on typical assumptions that may not apply to your business. This page and calculator are not tax advice. The indicated tax treatment applies only to transactions deemed to reflect a purchase of the equipment or a capitalized lease purchase transaction. Please consult your tax advisor to determine the tax ramifications of acquiring equipment or software for your business.

Important Update for Tax Year 2024

Jan 1, 2024 - Using Section 179 and/or Bonus Depreciation with an Equipment Lease or Equipment

Finance Agreement might be the most profitable decision you make in 2024.

The amount you deduct will exceed your cash outlay for 2024 when you combine (i) a properly

structured Equipment Lease or Equipment Finance Agreement with (ii) a full Section 179 deduction.

It is a bottom-line enhancing tool (plus, you get the new equipment and software you're adding to

your business).

Financing & Section 179

Leasing equipment and/or software with the Section 179 deduction in mind is a preferred financial

strategy for many businesses, as it can significantly help with not only cash flow, but with profits as

well.

Equipment & Software Leasing - Non Tax / Capital Leases

The main benefit of non-tax capital leases is that you can still take full advantage of the Section 179

Deduction, yet make smaller payments. With a non-tax capital lease you can acquire and write-off up

to $1,220,000 worth of equipment this year, without actually spending $1,220,000 this year. Small

businesses managing cash flow can leverage a non-tax capital lease to minimize out-of-pocket cash

and still take the full Section 179 Deduction.

One example of non-tax capital leases includes a & "$1 Buyout Lease" & and a "10% PUT (Purchase

Upon Termination Lease)". In many cases, the amount you save in taxes will be MORE than the total

of your first year's payments.

How much money can Section 179 save you?

The new Section 179 Deduction limits will have a real impact on your equipment costs. Here's an

easy to use calculator that will help you estimate your tax savings. Simply enter in the purchase

price of your equipment and/or software, and let the calculator take care of the rest.

Calculation Using the Section 179 Calculator

Using a $35,000 equipment cost for a sample calculation shows how taking advantage of the

Section 179 Deduction can significantly lower the true cost of the equipment purchased, financed or

leased. In the example, $35,000 in equipment purchased has a true cost of $22,750. That's $12,250

added to your bottom line, which is substantial.

In order to qualify for the Section 179 Deduction, the equipment must be purchased, financed or

leased and put into service by December 31, 2024. Feel free to contact us 888-869-0070 with any

questions.

201 Tom Hall #1513 St.

Fort Mill, SC 29716

(888) 869-0070

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