Let’s talk taxes, folks. Specifically, let’s talk about investing money in YOUR company instead of giving it away to the government. The Section 179 expense allowance is something every business owner should know about since it’s the difference between a capital investment in your business and simply paying that money as taxes.
New and used equipment purchased during the 2013 calendar year are eligible for tax deductions that substantially reduce the net cost of owning a machine. In addition to that savings, new equipment bought and put into service this year can be eligible for 50% bonus depreciation ON TOP of normal first year depreciation. If that sounds like a lot of information, check out this easy to read breakdown from CNH. Here’s an example:
If you’ve got the cash flow this is a great time to upgrade that skid steer, wheel loader or snow blade. If you’re thinking of buying later you could be skipping out on tens of thousands of dollars in tax savings – if not more. Put that money where it belongs: into your business that you’ve worked hard to establish. Don’t give it away. Put it to work.
We’ve got inventory that qualifies for these offers. Contact any of our three Chicagoland locations for more information. And remember to consult your tax expert for accounting advice – we’re just your local equipment dealer!