Section 179 | everlastingcapital

2018 Section 179 Tax Deduction Calculator

Take Advantage Of 

Section 179

IRS SECTION 179

 

  • The deduction limit for Section 179 is now $500,000

  • The 2018 Section 179 Deduction threshold for total amount of equipment that can be purchased is now $2,000,000

  • Most new and used equipment, as well as some software, qualify for the Section 179 Deduction

  • 50% bonus depreciation has been reinstated for the tax year 2018 and extended through 2019.

    • You can deduct an additional 50% of the amount over $500,000 in addition to your standard depreciation deduction. This applies to equipment acquired and put into service during 2017 and 2018. Then bonus depreciation will phase down to 40% in 2019 and 30% in 2019.

  • When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation

The calculator presents a potential tax scenario based on typical assumptions that may not apply to your business. This page and calculator are not tax advice. The indicated tax treatment applies only to transactions deemed to reflect a purchase of the equipment or a capitalized lease purchase transaction. Please consult your tax advisor to determine the tax ramifications of acquiring equipment or software for your business.

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