Tax Deductions

News Alert: Section 179 Increased is One Million for 2019

Jan 4, 2019 –  Section 179 is one million dollars for 2019, as stated in H.R.1, aka, The Tax Cuts and Jobs Act.The deduction limit for Section 179 is $1,000,000 for 2019 and beyond, while the limit on equipment purchases remains at $2.5 million.

Further, the bonus depreciation is 100% and has been made retroactive to 9/27/2017. It is good through 2022. The bonus depreciation also now includes used equipment.

See fully updated 2019 Section 179 Calculator to see how this tax deduction affects your company.

 

News Alert: See the IRS Fact Sheet issued for Section 179

The IRS released Fact sheet FS-2018-9 provides info on Section 179 deductions including temporary 100 percent bonus depreciation, changes to depreciation limitations on vehicles used for business, new treatment of farm equipment, and the recovery period for real property.  Read the new IRS Fact sheet here:  New Rules and Limitations for Depreciation and Expensing under the Tax Cuts and Jobs Act

All POE LED Lighting qualifies for section 179 see the link for more information.