Have you considered the tax incentive for purchasing equipment this year?
Section 179 of the IRS Tax Code allows a business to deduct the full purchase price of qualifying equipment and/or software purchased or leased during the tax year. A business may deduct up to $1,000,000 in 2021 with purchase prices amounting to no more than $2,500,000.
If you’re interested in purchasing new AIM® equipment, the time to act is now! This 2021 tax deduction is only available on purchases made between January 1, 2021 and December 31, 2021 and may change in the coming years, so take advantage of this benefit while it is available!
Section 179 Deduction Example
Equipment Costs |
$100,000 |
$200,000 |
Section 179 Deduction |
$100,000 |
$200,000 |
Total cash savings (35% tax rate) |
$35,000 |
$70,000 |
Final cost of equipment after deductions |
$65,000 |
$130,000 |
Disclaimer: AIM, Inc. is happy to help with determining your equipment needs and provides wire bending machines that meet the tax code requirements. However, the information in this email and on the websites below is not intended to be tax or legal advice. Each business situation is different and tax regulations change frequently. Please consult your tax professional before buying property with the intent to take a Section 179 deduction.
For further information on Section 179 of the IRS Tax Code, please visit IRS Publication 946: Depreciation or www.section179.org
