This is it. We are into the homestretch for Section 179 for 2019.
When the clock strikes midnight on 12/31/2019, that’s it – Section 179 for 2019 is done. Over. Finished.
And you don’t want to miss it. Trust me on this – here’s why:
The US Government has given small and medium businesses a HUGE gift with Section 179. It allows you to deduct the entire purchase price of almost all equipment purchases, up to a million dollars.
In other words, if you buy a new machine, or a delivery truck, or almost anything else used in business, you can deduct the entire cost from your 2019 taxes. Depending upon your tax rate, that’s like getting an instant 25%-35% discount on your purchase. That’s sweet. Want to see how much you can save? Check out this Section 179 Calculator.
Section 179 Financing Makes it Even Sweeter
Even better is when you finance your purchase. Because this does two things:
First, it gives you the funds to buy the equipment now and take advantage of Section 179. We have but a few weeks left in 2019, and financing the equipment allows you to get it before the 12/31 deadline.
Second, the money you save on your taxes (again, depending on your rate, it’s like you instantly get 25-35% of the purchase price as raw, keep-able dollars) will FAR EXCEED the payments you make. This can make 2019’s profit number soar, and also have a profound effect on 2020’s bottom line as well.
We have customers who finance a few items, and the money they save on their taxes covers their payments for as many as 18-24 months. That’s like getting the equipment for free for a year or two. Plus, you are using the equipment to further increase your revenues, right? So that’s even more advantageous to your bottom line.
I know I chirp about Section 179 a lot, but seriously, it’s such a big deal that it astounds me when businesses do not take advantage of it every single year. Make sure you’re not left out, and if I can help in any way, let me know!