End of Year Product Savings and Tax Incentives
- Under IRS Section 179, businesses spending less than $2,500,000 a year on qualified equipment may write off up to $1,000,000 up front.
- 100% Bonus Depreciation on qualified equipment placed in service from 9/27/2017 through 12/31/2022.
- The $1,000,000 phases out when a business purchases more than $2,500,000 in one year.
- Companies cannot write off more than their taxable income.
Cost of Equipment
1st Year write-offs
- Section 179
- 100% Bonus Depriciation
Total Deduction in 1st Year
Marginal Tax Rate Assumed 21%
Bottom Line Equipment Cost After Tax Savings
We’re packaging people not accountants, and aren’t offering legal, tax or financial advice. However, we work with the largest equipment finance company in America focused solely on packaging and processing equipment.
Call a packaging specialist today to see how you can reduce your taxable income this year.