Section 179

Take advantage of the Section 179 tax deductions!

Now is the perfect time to buy or convert your rental into equipment you own and get a sizeable tax deduction.

Section 179 allows businesses to deduct the full cost of qualifying new and used equipment from their 2023 taxes up to $1,160,000. The ability to take deductions under Section 179 begins to phase out for total equipment purchases in excess of $2,890,000. Equipment must be purchased and placed into service by December 31, 2023.

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Section 179 Calculator

$1.16 Million

Deduction Limit

$4.05 Million

Spending Cap

80%

Bonus Depreciation

Deadline

12/31/2023

CALCULATION - SAMPLE SCENARIO

Equipment Cost	$100,000
Section 179 Deduction	$100,000
Bonus Depreciation [100%]	$0
First Year Deduction	$100,000

Cash Savings:
[35% Tax Bracket]	$35,000
[21% Tax Bracket]	$21,000

Cost of Equipment after Tax Savings
[35% Tax Bracket]	$65,000
[21% Tax Bracket]	$79,000

NOTE: This information should not be considered tax or legal advice. Contact the IRS or your tax advisor for additional details.

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