Section 179

News Alert: Section 179 Increased to One Million for 2018

Jan 2, 2018  –   With the passage and signing into law of  H.R.1, aka, The Tax Cuts and Jobs Act , the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on equipment purchases likewise has increased to $2.5 million.

Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also now includes used equipment.

See fully updated  2018 Section 179 Calculator  to see how this tax deduction affects your company.

News Alert: IRS Fact Sheet issued for 2018

Apr 25, 2018  –   Factsheet FS-2018-9 provides info on Section 179 deductions including temporary 100 percent bonus depreciation, changes to depreciation limitations on vehicles used for business, new treatment of farm equipment, and the recovery period for real property.  Read the new IRS Factsheet here:   New Rules and Limitations for Depreciation and Expensing under the Tax Cuts and Jobs Act

2017 Section 179 Tax Information (Last Year)

The Section 179 deduction is $500,000 for 2017, with a 50% bonus depreciation in place until late September (see 2018 information for the change).  The tax Year 2017 Section 179 Calculator (Calculator for Last Year)