Section 179 is a tax incentive created to help business owners by allowing a write-off of your entire equipment purchase in the current tax year. This incentive reduces the upfront investment in equipment like remote tank monitoring and allows you to achieve a faster payback on your purchase.
Example savings:
Investment in Tank Monitoring: $25,000
Section 179 deduction in 2016: $25,000
Cash savings (@ 35% tax rate): $8,750
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Lowered cost of equipment: $16,250 *
*As estimated on http://www.section179.org/
Note: The information contained herein is general in nature and not intended to provide you with specific tax advice. Contact your attorney, accountant, tax or other professional advisor with regard to your individual situation.
