Section 179 of the tax code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. That means if you buy (or lease) a piece of qualifying equipment, you can deduct the full purchase price from gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
Bonus depreciation on new and used equipment is being offered at 80% for 2023. Bonus depreciation is a useful deduction to very large businesses spending more than the Section 179 Spending Cap (currently $2.89 million) on equipment.
ALL is the preferred place to buy because we have a huge selection of new and used equipment, authorized dealer alliances with major brands, and a reputation for maintaining used stock in like-new condition.
This information should not be considered tax advice. Contact your tax advisor for details.
Further information is available at IRS.gov. Learn more about Section 179 at section179.org.
Link-Belt LS218HSL - S/N N6J7-9021, 2007, 110 USt, Isuzu 6HK1 Diesel Tier III (20,890 Hours), 150' Main Boom, 3rd Drum, Free Fall, Block and Ball, Rebuilt Tracks and New Paint in 2018. Located in Indianapolis, IN. Unit #9598