Every business can use a tax break right? From now until December 31, 2016 your business can take advantage of a special tax benefit that puts money back into your pocket. It’s called the “Section 179 Deduction” and it’s easier than you might think. Keep reading…
What Is the 2016 Section 179 Deduction?
The Section 179 deduction is a tax code that allows businesses to write off the full purchase price of qualifying equipment, vehicles, and off-the-shelf software purchased or financed during the 2016 tax year. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. Section 179 is an incentive designed to help small businesses. Although large businesses also benefit from Section 179 or Bonus Depreciation, the original target of this legislation is much needed tax relief for small businesses – and millions of small businesses are actually taking action and getting real benefits.
What Can Section 179 Do for Your Business?
If you purchase (or lease) qualifying equipment or buy software such as BobCAD-CAM’s v29 or BobCAM for SOLIDWORKS, you can fully deduct the total purchase price from your gross income. This is like rewarding you for supporting productivity and enhancing your business technology to become more efficient and profitable. It’s a great deduction supporting growth in the manufacturing sector.
How Does it Work?
Instead of using the normal depreciation of equipment over time, Section 179 lets you use the full purchase price as a deduction in the same year you bought it. Plus, for 2016, the purchase price limit is $500,000. In addition, businesses that exceed the $500K deduction limit can take a one-time, bonus depreciation of 50% of the amount that exceeds the limit, then take a normal depreciation on the rest.
Purchase your BobCAD-CAM software and other capital equipment before December 31, 2016 and Save Big with The Section 179 Tax Deduction!
Call BobCAD-CAM direct at 877-262-2231 or 727-442-3554 to order now!
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Tags: BobCAD-CAM, CAD-CAM Software, cnc software, Manufacturing Industry, section 179 tax deduction, Tax Savings