With the threat of the “fiscal cliff” and uncertainty around the debt ceiling – there’s a lot of talk about what’s going to happen with our business and personal taxes in the very near future.
One thing is for certain, however: you will want to remember to leverage the Section 179 deductions and bonus depreciation tax incentives that expire at the end of the year.
What are Section 179 benefits?
If you buy or lease equipment or software by the end of this year, you can deduct up to $139,000 from your gross income.
If you purchase more than $139,000 (up to $560,000), you can deduct an additional 50% of the overage in addition to the standard depreciation deduction.
That means, in some situations, the tax savings is actually GREATER than the lease cost for the first year.
Want more details? Click here.
Shhhh…don’t tell the IRS.
But DO talk to your accountant and your Regional Sales or Account Manager at Blytheco. We’ll find a solution that fits your goals, hook you up with our buds at Dimension Funding to get a great lease, and we’ll all be happy and ready to WIN in 2013.
Call us at 800.425.9843, extension 2500, or email us for more info.