Alchemy-Spetec Blog

Take Advantage of the Section 179 Tax Break on Equipment Before the Year Ends

Posted by Erik Prinzing on Nov 23, 2021 10:00:00 AM

Banner - Section 179 Tax Break

High-performance polyurethane concrete repair equipment is essential to the success of any contractor in this industry.  For that reason, I'd like to bring the Section 179 tax break to your attention.  According to the Section179.org website...

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.  Read more at Section179.org.

If you're currently considering an equipment purchase, you may want to buy before the end of 2021 so you can take advantage of the deduction on this year's tax return.  

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Topics: Equipment & Accessories, All Posts, Business Tips