The leaves are changing, theres a cool nip to air and fall is here.. With all the craziness, I think this year in particular, people are more excited to be done with 2020 and looking forward to a new year... But if you’re a business owner you recognize that as we enter the 4th quarter, you have the additional pressure and responsibility of assuring you close out your books and wrap up the year in a better position to launch right out of the gate into 2021.
This video is slight departure from all of videos covering CNC routers, specifications and projects etc but its non less important to your business. We are going to talk briefly about the advantages of year tax code 179. Tax code 179 was designed to help minimize your tax burden for 2020 while allowing you to benefit from the investment in a tool that will put your shop on steroids.
Essentially Section 179 of the 2020 tax code allows businesses to deduct the full purchase price of qualified equipment. Its an incentive from the U.S. government to encourage businesses to invest in themselves and the equipment needed to grow their businesses. Section 179 is one of the few government incentives available to small businesses, and has been included in many of the recent Stimulus Acts and Congressional Tax Bills.
In years past, when your business bought qualifying equipment, it typically wrote it off a little at a time through depreciation. As our equipment is 179 qualified you would can deduct the full purchase price from your gross income as an expense, rather than requiring the cost of the equipment to be capitalized and depreciated over years.
This one time, full deduction can even be applied to equipment that is leased or financed.
This incentive gives you a huge overall savings / capital cost reduction and is in addition to any year end savings and discounts we offering on our CNC machines, equipment and software.
So theres gotta be a catch right? Well all good things come to an end the Uncle Sam requires the Equipment must be purchased and in place before December 31st. That about it.
So talk to your tax professional and jump check out our full line of Industrial CNC Routers or call the number shown below to get the best price on the equipment you need to wrap up this year with a bang and make 2021 your best year yet.
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