Don’t Miss Your Chance to Take Advantage of the 2013 Enhanced Section 179!
Thanks to American Taxpayer Relief Act of 2012 (also known as the ‘Fiscal Crisis Bill’) Section 179’s limits have been raised. You must act quickly, the limits will be decreasing for 2014! Section 179 is available for most new and used equipment.
The table below shows the significant change in Section 179 from last year:
Deduction Limit $139,000 $500,000
Limit on Capital Purchases $560,000 $2,000,000
Bonus Depreciation 50% 50%
Section 179 has a December 31, 2013 deadline so take advantage of it while you still can! Learn more about it at http://www.section179.org/, including what equipment qualifies.
To be certain that you come away with all of the knowledge you need to make smart business decisions in this 2013 tax year regarding equipment purchasing and Section 179, please check with your CPA.