Due to the Section 179 Deduction, you have the ability to take advantage of a tax write-off for 2019 (up to 1 million dollars). Welding machines qualify for this deduction, so be sure to get your write-off before the end of the year! This means huge savings on end-of-year tax burdens and that new equipment you've been eyeing.
What is the Section 179 Deduction?
Section 179 of the IRS tax code allows businesses to deduct the entire purchase price of their welding machine purchased during the tax year. You read that right, the entire purchase price! Not just the tax cost. This is an incentive for businesses to purchase equipment that will be used to invest in themselves.
This being said, the Section 179 deduction is more beneficial to small businesses than ever. It is one of the only incentives available to small businesses, and it has been included in plenty of recent Stimulus Acts and Congressional Tax Bills. In fact, the original goal of this tax act was to relieve small businesses of tax burdens. Join the millions of small businesses that are already taking part of this deduction today!
Here's How Section 179 Works:
In years past, you would write off your equipment a little at a time through depreciation, but now you can actually write off the entire purchase price of the equipment in the year that you purchase it.
This will give you the flexibility to purchase the equipment now, rather than waiting. For most small businesses, the entire cost of qualifying equipment can be written-off on your upcoming 2019 tax return (up to 1,000,000).
Do You Qualify for Section 179?
Any business that purchases, finances, or leases new or used business equipment during the tax year of 2019 should qualify.
The equipment must be used for business purposes more than 50% of the time to qualify for the Section 179 Deduction.
To read even more about the Section 179 Deduction, check out www.section179.org.