Section 179 allows businesses to lower their current-year tax liability rather than capitalizing an asset and depreciating it over a period of time in future tax years.
Benefits of Section 179:
Bonus Depreciation:
This is an example of using the Section 179 Deduction by purchasing a WFT 13 CNC table-type machine. The figures here are for illustrative purposes only!
This is an example of using the Section 179 Deduction by purchasing a WRF 160 CNC floor-type machine. The figures here are for illustrative purposes only!
To take the deduction for tax year 2023, the equipment must be financed / purchased and put into service between January 1, 2023 and the end of the day on December 31, 2023.
The information on this site is provided as a customer service by LUCAS PRECISION LLC. However, it should not be construed as tax advice. We strongly recommend that you consult with your tax advisor!