News Alert

Buying a Snowplow This Year is a Good Idea

Did you know that snowplows and salt spreaders bought this year for a business can qualify for a 100% tax deduction thereby lowering your company’s taxable income? It’s what is known as the Section 179 Deduction.

What is the Section 179 Deduction?

Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It's an incentive created by the U.S. Government to encourage businesses to buy equipment and invest in themselves.

Although large businesses also benefit from Section 179 or “bonus depreciation,” the original target of this legislation was much needed tax relief for small business - and millions of small businesses are actually taking action and getting real benefit.

Ask your tax advisor or accountant about the Section 179 Deduction as there is no guarantee it will be applicable in 2012. Click on the link below for more information and access to a Section 179 Calculator.

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