Smart Choices for Advanced Collision Repair Equipment and Training
This is IMPORTANT NEWS for anyone purchasing equipment
If you are unfamiliar with IRS Section 179 we suggest
you speak with your CPA and call Steve
Last year, there was a certain amount of uncertainty regarding the Section 179 limit; it was discussed
by Congress on several occasions and the IRS took a while to issue a final deduction limit.
As it stands right now, the total 2016 Section 179 tax deduction limit is $500,000.
This means you can buy or lease up to $500,000 worth of eligible equipment and deduct its cost,
providing you place it into service on or before 12/31/16. You may also elect to use Section 179 with more than
one piece of equipment, as long as the total deduction amount does not exceed $500,000. So, if you are in the
market for new or used business equipment, talk to your tax professional right away. They will let you know if the
equipment you want to buy meets the Section 179 eligibility requirements that are set forth by the IRS.
Contact me today to get started.
Steve G. Babor
2010 Main St.
Irvine, CA 92614
Direct (253) 227-2066
244 Clay Hill Road
Cape Neddick, Maine
6825 216th Street SW
Woods Business Center Suite A
Lynnwood, WA 98036
Maine - New Hampshire
Copyright 2016 - Bryant McNeely LLC - All Rights Reserved
Updated 24 July 2018