News Alert: Section 179 Increased to One Million for 2018
With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on equipment purchases likewise has increased to $2.5 million.
Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also now includes used equipment.
The good news is that Mastercam, Verisurf, Octopuz, and CIMCO all qualify as software solutions under this provision!
In short, this tax code allows businesses to deduct the full purchase price of qualifying software/equipment purchased or financed during the year. You can deduct the full price of the software/equipment from your gross income whether if you pay in cash or if you finance/lease!
Leverage the ability to invest more heavily in your business to grow faster in 2018 and beyond. We encourage you to discuss the opportunity in detail with your accountant but here is a quick overview.
For more details about Section 179 visit Section179.org.
Talk to an expert about a software and training solution to meet your needs. Take advantage of this opportunity to invest in your company.
Call 877-429-5708
Or click this link to request a call.
