Section 179 Tax Deduction Limit For 2015
If you own a business, one of the most important tax codes you need to be familiar with is Section 179. It lets you deduct the purchase price of many types of equipment that is used for business. Over the years, this tax code has helped entrepreneurs and long-established business owners throughout the country write off a big portion of their equipment and technology purchases, thereby enabling them to save their cash. According to the IRS, the Section 179 tax deduction limit as of January 1st 2015 is $25,000. This is a sharp drop from the limit of several years ago, but it still presents you with an opportunity to deduct a certain amount of your equipment, technology and software purchases when it comes time to do your business taxes. Here at Balboa Capital, we consult with business accountants throughout the year to get the very latest information pertaining to Section 179, and we make regular updates to our website to keep our customers and equipment vendors fully informed.
Take Advantage of Section 179 in 2015
Apple Capital finds that most businesses we work with take advantage of tax write-offs in order to help lower the true cost of ownership on their business equipment. We can structure a custom-tailored equipment financing plan for your individual needs, just like we have done for thousands of small and medium-sized businesses throughout the country since 1988. In addition to helping you save money, an equipment lease preserves your business credit line and allows you to make periodic upgrades to your equipment, software, vehicles and more.
Tax Credit Legislation Has Been Introduced
Some lawmakers have proposed a higher Section 179 deduction limit, along with a permanent extension of the tax provision, to help US businesses purchase more equipment, hire more workers and maintain a better bottom line. Apple Capital will stay on top of these proposals and update our website should anything change. We will keep our Section 179 calculator programmed with the 2015 tax deduction limit of $25,000 unless a major change is made by Congress. Bookmark this Balboa Capital web page so you can readily access the latest information about equipment expensing limits.