Now is the time to invest in the future of your business. With the IRS Section 179 tax incentive offers for 2022, you can save big on new equipment including Stratasys, Creaform, DyeMansion, and PostProcess Technologies.
Don’t Miss Out on 2022 Tax Deductions
Section 179 Overview
Section 179 is an attractive tax deduction for small and medium businesses. It’s also very easy to understand and utilize.
Deduction Limit for 2022: $1,080,000
This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2022, the equipment must be financed or purchased and put into service between January 1, 2022 and the end of the day on December 31, 2022.
2022 Spending Cap on equipment purchases: $2,700,000
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true “small business tax incentive” (because larger businesses that spend more than $3,780,000 on equipment won’t get the deduction.)
Bonus Depreciation: 100% for 2022
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. The Bonus Depreciation is available for both new and used equipment.
Tax Deduction Calculator
Are you considering whether or not to purchase or lease equipment in the current tax year? This Section 179 Deduction Calculator for 2020 may very well help in your decision, as Section 179 will save your company a lot of money.
To calculate your savings, here is a link to the Section 179 Calculator. Consult your tax professional for a full understanding.
If traditional methods of purchasing via financing are difficult right now, we also offer a Hardware as a Service Program. This full-service, all-inclusive package provides you with equipment, material, shipping, installation, and training at a cost that works for you. Learn more here.
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