How To Use Section 179 When Buying Business Equipment. Year End Buying Strategy Makes Sense for Small Business Owners.

It’s Usage & Not Ownership That Provides You Benefit
Think about this for a moment… When you make an equipment investment, it’s the usage of the equipment that will bring in the benefit. It’s not the ownership.

But You Want The Best of Both, Right? 
This is exactly what a lease-to-own equipment finance solution will do for you as a small business. You’ll enjoy the daily usage of your equipment, but with the comfort of knowing that you’ll also own your equipment once all is said and done. All with affordable monthly payments that your pocket book will like.

But, Let’s Take It “One Up” For Even More Benefit
Imagine this…. Being able to invest in your equipment today, keep money in your own pocket, yet claim the entire purchase on this year’s books. This is the beauty of SECTION 179 of the IRS Tax Code . You avoid complex depreciation schedules and you reduce your tax liability to boot. Mission accomplished.

Section 179 At A Quick Glance For The 2020 Tax Year

• Deduction Limit of $1,000,000 for new and used equipment
• Spending Cap on equipment purchases = $2,500,000
• Bonus Depreciation: 100% available for 2020
  

Qualifying Equipment

• Business Equipment Of All Types - Equipment, vehicle(s), and/or software must be used for business purposes more than 50% of the time to qualify.
• Vehicles Designed For Commercial-Use - Vehicles with 6,000+ pounds GVW, are limited to a $25,000 deduction
• Off-The-Shelf Software - Readily available for purchase by the general public with a non-exclusive license and not substantially modified. Websites do not qualify. 

 
Here’s How It Works:

1. Invest in new, pre-owned, or refurbished equipment. Keep your dollars in your pocket by choosing a term of solution up to 60 months.
2. Then you have the option to claim the entire equipment investment* on your books before the last day of the current year.
3. Sit back and enjoy rewards. You’ve just given yourself a raise. Section 179 works for you. 

 
If you have questions on whether something you wish to finance will qualify, or just want to learn more give us a call today at 866-590-2220 . For immediate consideration, simply fill out our on-line application to get started, and lets work on something great together.