Tax Benefits

Businesses have significant reasons to acquire and install capital equipment before the end of 2024. Plan now to maximize these important benefits.

Calculate your potential savings with our 2024 Section 179 tax deduction calculator. Just enter your equipment cost below.

Cost of Equipment:

Section 179 Deduction:

Bonus Depreciation:

Total First Year Deduction:

Potential Tax Savings in 2022:

(after Tax Savings)

* Based on an expected 5-year asset life

**Tax Savings assume a 35% tax rate

You should always consult your tax advisor for specific impact to your business.

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Section 179 Deduction

Companies can expense up to a $1,000,000 ($1 million) deduction on new or used equipment.
The maximum equipment investment amount eligible for the full $1,000,000 deduction is $2,500,000 ($2.5 million) before a dollar-for-dollar phase-out begins.

Additional deductions may be available if you qualify for bonus depreciation.
Take an additional write-off of 100% of the undepreciated balance of capital expenditures and depreciable property (new equipment only).
Equipment must be depreciable under the Modified Accelerated Cost Recovery System (MACRS) with a recovery period of 20 years or less.