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Create your own Tax Break!
179 of the United States Internal Revenue Code (26 U.S.C. § 179),
allows a taxpayer to elect to deduct the cost of certain types of
property on their income taxes as an expense, rather than requiring the
cost of the property to be capitalized and depreciated. This property
is generally limited to tangible, depreciable, personal property which
is acquired by purchase for use in the active conduct of a trade or
business. Buildings were not eligible for section 179 deductions
prior to the passage of the Small Business Jobs Act of 2010; however,
qualified real property may be deducted now.
property that is not eligible for a section 179 deduction is still
deductible over a number of years through MACRS depreciation according
to sections 167 and 168. The 179 election is optional, and the eligible
property may be depreciated according to sections 167 and 168 if
preferable for tax reasons. Further, the 179 election may be made
only for the year the equipment is placed in use and is waived if not
taken for that year. However, if the election is made, it is
irrevocable unless special permission is given.
Be sure to consult with your tax professional.............
To get started click to the Intended Use Form
All Orbit Screens Models qualify for the
Section 179 Deduction
Purchase Price $75,000
First Year Write Off $75,000
Tax Savings Assuming 35% Tax Rate $26,250
$75,000 x 35% = $26,250
Note: Your tax rate may be different
Net Cost After Tax Savings $48,750
$75,000 - $26,250% = $48,750