IRS SECTION 179
Check Your Savings By Using OUr Free Calculator
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.
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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