Sources: irs.gov, official website for the Internal Revenue Service
Thursday, October 4, 2012
The Section 179 Tax Deduction and Your Business
Read on to learn how the American Recovery and Reinvestment Act can help your business - This Year!
Did you know……
You can depreciate 100% of your investment in a Clean Burn waste oil furnace – this year!
The American Recovery and Reinvestment Act extended the bonus depreciation and increased the section 179 deduction. For many businesses, these two provisions are only available this year and, as a result, they only have a few months to take action and save on their taxes.
The section 179 deduction enables small businesses to deduct up to $250,000 of the cost of computers, machinery and equipment, oil and gas storage tanks, vehicles, furniture and other qualifying property placed in service during 2012.
Section 179 changes often, and has even changed mid-year. Take advantage of this great tax deduction now and get FREE HEAT with a Clean Burn waste oil heater! Don’t wait until next year. It could be too late…………………..
Section179.org, qualifying property list
Whether you are making a decision to invest in your business, or you already purchased and installed your qualifying equipment in 2012, you may qualify for this deduction! Make sure to ask your accountant.