Reduce Your Taxable Income in 2019
Published Dec. 27, 2019
Author Regina Narjes
Reduce your taxable income even more in 2019, thanks to an increase in the deduction limit for Section 179. Now you can deduct the full cost of qualifying new and used equipment purchases from your 2019 taxable income, up to $1,020,000. What’s more, the cap on eligible purchases has been raised to $2,550,000. Don’t forget: Bonus depreciation is 100% and applies to used equipment.
Buy the new or used equipment you need and keep more dollars in your pocket
Equipment must be placed in service before December 31, 2019
Section 179 deduction limit is now permanent, so you can tax plan with confidence
*21st Century Equipment does not provide tax, legal or accounting advice. Customers are strongly encouraged to seek their own professional advice on the proper treatment of these transactions.