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For those of you who do not know what Section 179 is, let me give you my simple definition: Section 179 allows companies to deduct full purchase price of qualifying equipment or software that was financed or purchased during the tax year. What this means in layman’s terms (which is the only way I know how to communicate effectively) is that if you bought, financed, or leased qualifying equipment in 2017, you are able to deduct the full purchase price from your gross income. In a nut shell and most importantly, Section 179 was created to provide tax relief for all businesses (small and large).
· FOR BOTH NEW AND USED EQUIPMENT
· UP TO $500,000 IF EQUIPMENT IS INSTALLED AND PUT INTO SERVICE BY MIDNIGHT
DECEMBER 31, 2017
I’m not an accountant, so please consult your CPA should you need more detailed information. However, I am a commercial lender that specializes in the survey industry, and I am here to assist you in acquiring any additional equipment you need by the end of the year to help you take advantage of this tax break. Let me know if you have any questions or concerns, and I look forward to hearing from you. Have a great holiday season!
PRECISION LEASING, INC.
RODNEY C BLECHA
15550 WEST 108TH STREET, #101
LENEXA, KS 66219
(913) 962-1830 work
(913) 273-1523 fax
(913) 488-5113 cell