Are you considering whether or not to purchase or lease equipment in the current tax year? This Section 179 Deduction Calculator for 2013 may very well help in your decision. The changes in the Section 179 Deduction limits for 2013 are significant, and will save your business a lot of money.
How much money can Section 179 save you? Here is an easy to use calculator that will help you estimate your tax savings. Section 179 Calculator
There are only 25 days left to take advantage of Section 179 Deduction!
Here is an example of Section 179 at work:
2013 and 2012 Deduction Limit = $500,000
This is good on new and used equipment, as well as off-the-shelf software.
2013 and 2012 Limit on equipment purchases = $2,000,000
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced.
Bonus Depreciation = 50%
This is taken after the $2 million limit in capital equipment purchases is reached. Note: Bonus Depreciation is available for new equipment only. Bonus Depreciation can also be taken by businesses that will have net operating losses in 2013.
The above is an overall, “simplified” view of the Section 179 Deduction for 2013. For more details on limits and qualifying equipment, as well as Section 179 Qualified Financing, please visit www.section179.org carefully.
Mid-State Litho, Inc.
5459 Fenton Rd.
Flint, MI 48507
midstatelitho.com