26 Days Remain to Take Advantage of the IRS Section 179 Tax Deduction

The countdown has started  –  You Must Act Now!

 

Watch this 10 minute video explaining the IRS Section 179 Tax Code.

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What is the Section 179 Deduction

Most people think the Section 179 deduction is some mysterious or complicated tax code. It really isn’t, as you will see below.

Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.

Several years ago, Section 179 was often referred to as the “SUV Tax Loophole” or the “Hummer Deduction” because many businesses have used this tax code to write-off the purchase of qualifying vehicles at the time (like SUV’s and Hummers). But that particular benefit of Section 179 has been severely reduced in recent years (see ‘Vehicles & Section 179‘ for current limits on business vehicles.)

However, despite the SUV deduction lessened, Section 179 is more beneficial to small businesses than ever. Today, Section 179 is one of the few government incentives available to small businesses, and has been included in many of the recent Stimulus Acts and Congressional Tax Bills. Although large businesses also benefit from Section 179 or Bonus Depreciation, the original target of this legislation was much needed tax relief for small businesses – and millions of small businesses are actually taking action and getting real benefits.

Here’s How Section 179 works:

In years past, when your business bought qualifying equipment, it typically wrote it off a little at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example).

Now, while it’s true that this is better than no write-off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it.

And that’s exactly what Section 179 does – it allows your business to write off the entire purchase price of qualifying equipment for the current tax year.

This has made a big difference for many companies (and the economy in general.) Businesses have used Section 179 to purchase needed equipment right now, instead of waiting. For most small businesses, the entire cost of qualifying equipment can be written-off on the 2018 tax return (up to $1,000,000).

Limits of Section 179

Section 179 does come with limits – there are caps to the total amount written off ($1,000,000 for 2018), and limits to the total amount of the equipment purchased ($2,500,000 in 2018). The deduction begins to phase out on a dollar-for-dollar basis after $2,500,000 is spent by a given business (thus, the entire deduction goes away once $3,500,000 in purchases is reached), so this makes it a true small and medium-sized business deduction.

Who Qualifies for Section 179?

All businesses that purchase, finance, and/or lease new or used business equipment during tax year 2018 should qualify for the Section 179 Deduction (assuming they spend less than $3,500,000).
Most tangible goods used by American businesses, including “off-the-shelf” software and business-use vehicles (restrictions apply) qualify for the Section 179 Deduction.

For basic guidelines on what property is covered under the Section 179 tax code, please refer to this list of qualifying equipment. Also, to qualify for the Section 179 Deduction, the equipment and/or software purchased or financed must be placed into service between January 1, 2018 and December 31, 2018.

What’s the difference between Section 179 and Bonus Depreciation?
Bonus depreciation is offered some years, and some years it isn’t. Right now in 2018, it’s being offered at 100%.

The most important difference is both new and used equipment qualify for the Section 179 Deduction (as long as the used equipment is “new to you”), while Bonus Depreciation has only covered new equipment only until the most recent tax law passed. In a switch from recent years, the bonus depreciation now includes used equipment.

Bonus Depreciation is useful to very large businesses spending more than the Section 179 Spending Cap (currently $2,500,000) on new capital equipment. Also, businesses with a net loss are still qualified to deduct some of the cost of new equipment and carry-forward the loss.
When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation – unless the business had no taxable profit, because the unprofitable business is allowed to carry the loss forward to future years.

Section 179’s “More Than 50 Percent Business-Use” Requirement
The equipment, vehicle(s), and/or software must be used for business purposes more than 50% of the time to qualify for the Section 179 Deduction. Simply multiply the cost of the equipment, vehicle(s), and/or software by the percentage of business-use to arrive at the monetary amount eligible for Section 179.

Act Now

Section 179 can change each year without notice (Section 179 has even changed mid-year), so it benefits you to take advantage of this generous tax code while it’s available.

Section 179 offers small businesses a great opportunity to maximize purchasing power. In addition, recent changes have provided the small business owner with generous new (and higher) deduction limits. Most of the equipment your business will purchase, finance or lease qualifies for the deduction (see Section 179 Qualified Financing), so make sure you do your homework to verify that your company is leveraging the Section 179 Deduction this year.

Have more questions or want to get a price quote, call Dave at 254-742-4149 or email dave@theNVguy.com

$299 per month for a 2019 Nissan NV200 Cargo Van from Dave the NV Guy!

This offer is available for any business looking for the BEST COMPACT VAN, with the BEST WARRANTY IN THE INDUSTRY, for the BEST YEAR END PRICE AVAILABLE!

CLICK HERE TO WATCH A VIDEO TO GET MORE INFO ABOUT THIS SPECIAL OFFER!

$299 per mo NV200

Click HERE to see video of the Nissan NV200

NV200 pictured in video is the upgrade SV trim level, not the same trim as the sale unit listed above.

If you would like more info about the Nissan NV200, this offer or any other special offers on our full line up of Nissan Cars, SUV’s, small and large trucks, full size or compact vans, complete the contact box below and submit. I will return your request promptly.

Locksmith package in a Nissan NV2500, it’s ready to go today!

I have another Locksmith van in stock ready to go to work for you! Drive it for $495 per month.*

Check it out on this short video.

attention all locksmiths

And don’t miss out this great opportunity to deduct the FULL PURCHASE PRICE off your 2018 Federal Income Tax.*

Section 179 flyer

You might be interested in a Compact NV200 Cargo van available for under $20,000. Let me show you the TRAC Lease for this 2019 NV200.

Stk# KK694980 MSRP $23,455

$299 per month

Sale price of $19,245 with Tier 1 fleet pricing

63 month TRAC Lease  –  NO MILEAGE LIMIT

Tax, license and first payment up front $1885 total drive off.

End of lease residual of $4365. Purchase for residual or we can send to the auction. You get everything over $4365, or if it sells for less you owe the difference.

WAC Tier 1 Nissan Finance

For complete details call Dave at 254-742-4149 or email dave@theNVguy.com

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The Day After Black Friday Sale from Dave the NV Guy on New Nissan Commercial Trucks and Vans.

Shop in person or online – take advantage of the SPECIAL BLACK FRIDAY – End of the Month pricing on the entire inventory of Nissan NV200, NV1500, NV2500, NV3500 vans or Frontier, Titan and Titan XD pickup trucks.

NV200 free adrian steel upfit

Adrian Steel ShelfAdrian Steel Solid bulkhead

         CLICK HERE TO WATCH A SHORT VIDEO OF THIS VEHICLE.

            THIS IS THE LAST 2018 NV200 AVAILABLE! Other 2019 model year NV’s are in stock with fantastic savings.

Black Friday day after 11-23-18 sale

        IF YOU QUALIFY, YOU WILL BE ABLE TO DEDUCT UP TO $18,000. OFF THIS YEARS FEDERAL INCOME TAX WITH THE SECTION 179 TAX CODE!

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Let Dave the NV Guy help you with more information and to get a no pressure online price quote. Just complete and submit the form below and I will send you a “No Hassle Price Quote”.

You can always give Dave a call at 254-742-4149 or email dave@theNVguy.com

 

Black Friday Sale from Dave the NV Guy on New Nissan Commercial Trucks and Vans.

          Shop in person or online – take advantage of the SPECIAL BLACK FRIDAY – End of the Month pricing on the entire inventory of Nissan NV200, NV1500, NV2500, NV3500 vans or Frontier, Titan and Titan XD pickup trucks.

commercial sales 6

Click HERE to watch the short Video about the Special Black Friday Sale going on at Garlyn Shelton Nissan.

 

Black Friday 11-23-18 sale

And have you talked with your tax adviser or CPA about your 2018 Federal Income Tax obligation? Have you asked about taking advantage of the IRS Section 179 tax deduction for 2018? Here is some details about what it could mean to you and your business taxes.

Section 179 flyer

Let Dave the NV Guy help you with more information and to get a no pressure online price quote. Just complete and submit the form below and I will send you a “No Hassle Price Quote”.

 

You can always give Dave a call at 254-742-4149 or email dave@theNVguy.com

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HAPPY THANKSGIVING!

From Dave the NV Guy to all, please enjoy a day of Thanksgiving.

 

“O Heavenly Father:
We thank Thee for food and remember the hungry.
We thank Thee for health and remember the sick.
We thank Thee for friends and remember the friendless.
We thank Thee for freedom and remember the enslaved.
May these remembrances stir us to service.
That Thy gifts to us may be used for others. Amen.”
– “Dear Abby” Columnist

Today is Nov 26th, you only have 36 days left to save on your 2018 Federal Income Taxes, by purchasing a new Nissan.

Yes, that is correct, you can save a bunch on your company’s 2018 Federal Income Tax return, by PURCHASING A NEW NISSAN WORK TRUCK OR VAN.

Did you have a pretty good year? Will your business earn a nice income for 2018. Does this mean your accountant or CPA will be telling you to write a big check to the IRS?

Watch this short video for details.

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I know you are very busy, you really don’t want to be thinking about your next tax bill, but you only have a limited amount of time to make this happen. To save a bunch of your hard earned money, that you might have to write a check to the IRS for, take advantage of the Section 179 Tax Code NOW!

I have a great inventory today, but as it gets close to the end of the year that inventory will dwindle. Don’t wait til December 31st to act, give me a call today.

254-742-4149 or email dave@theNVguy.com

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