If you’re a US citizen thinking about buying an AXYZ CNC router, make sure you do it before December 31, 2019 so you can write off up to $1,000,00 right away with Section 179’s deduction allowance for 2019.
This is great news, especially if you’re running a small to medium-sized business with capital expenditure not exceeding more than $2,500,000. After this amount is reached, deduction is phased out on a dollar-for-dollar basis. This applies to both new and old equipment, and off-the-shelf software.
HOW MUCH MONEY CAN I SAVE?
This handy 2019 Tax Deduction Calculator can tell you exactly how much money you can save, depending on the amount you spend. Let’s look at the example below using a specific investment amount to see what the savings will be.
The chart on the left shows the calculation based on equipment purchases of $1,150,000. Using a 35% tax bracket and 100% bonus depreciation of $150,000, you can save a total of $402,500.
Visit Section179.org for details on how the deduction works. You can also access tax guides for previous years, starting from 2018 all the way to 2007.
LET’S GO SHOPPING
Don’t wait – take advantage of Section 179 deductions right now. Visit WARDJet.com to browse through an extensive product line for a waterjet cutting solution that’s perfect for your business. For specific questions, complete our online contact form or call 1-844-WARDJET to talk to one of our waterjet technical experts.
For Canadian citizens, read our recent blog Claim More, Save Sooner With The Accelerated Investment Incentive