Start Planning Early to Maximize Tax Savings for Your Business!
The Section 179 tax deduction limit is set at $1,220,000 for all of 2024. Businesses like yours will be able to deduct the full cost of business essential equipment purchased/financed in 2024 up to $1,220,000*. This includes both new and used equipment purchased and placed in service. Section 179 can provide you with a tax relief for the 2024 tax year, but your equipment must be purchased/financed and in place by midnight of December 31st, 2024.
Below is a summary of the main benefits of Section 179 for financing equipment:
- Equipment deduction limit up to $1,220,000
- Bonus depreciation is set at 60% for equipment acquired and placed in service in 2024
- Section 179 applies to both NEW or USED equipment financed in Fiscal year 2024
Calculate your estimated Section 179 tax savings:
If you’re already familiar with Section 179 and require fast and efficient financing before the year-end, we offer a simple online application process.
Fill it out now to secure the financing you need.
*Please consult your tax consultant/accountant to fully understand the benefits and implications of Section 179.