End of Year Spending: Take Advantage of the IRS Section 179 Incentive
November 8, 2016
What is Section 179?
Section 179 is an incentive designed to help businesses have the opportunity to upgrade their equipment and technology. Qualifying purchases include both new and used equipment, and 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.
How can Impact Help?
Now is the perfect time to take advantage of the Section 179 tax incentive for 2016. Impact Account Managers will be able to show you exactly how Impact can help you streamline your business and give you a competitive edge. Here are a few general things to know ahead of time.
- $2,000,000 spending cap for 2016— any additional purchases will result in a reduced deduction on a dollar-for-dollar basis.
- $500,000 deduction limit for all qualifying purchases before December 31, 2016.
- 50% bonus depreciation on new equipment. This bonus depreciation is usually taken after the spending cap is reached.
To learn more about Section 179, visit www.section179.org. Impact representatives will be happy to provide you with more information about Section 179 and all of our products and services. Our industry-leading service already puts Impact ahead of the competition, and Section 179 gives you the opportunity to save money without compromising quality.