How to Get Free Foodservice Equipment in 2015
How to Get Free Foodservice Equipment in 2015
Deduct the full purchase price of qualifying equipment by taking advantage of Section 179 in the IRS tax code.
Let’s start at the beginning. What is the Section 179 deduction, and how does it work?
Section 179 basically allows businesses to deduct the full purchase price of qualifying equipment and/or software that is purchased during the tax year. This means the full purchase price of bought or leased equipment can be deducted from your gross income.
Section 179 is different from standard equipment depreciation when your business can write off a purchase price over time. It was created to help stimulate the economy, and allows you to write of the entire purchase price during a tax year. Instead of deducting $10,000 for five years on a $50,000 piece of equipment, you get to deduct the whole cost in a single year.
Who Qualifies?
You must purchase, finance, or lease less than $200,000 in new or used equipment during the year.
What Qualifies?
From computers to machines, just about any piece of equipment purchased for your business qualifies.
How Much Can I Save?
Crest Capital has created an online calculator, which is endorsed by Section179.org. Click here to go to the calculator.
Need More Info?
Complete the form below to learn more about Section 179 from the Qualified Financing Guide to Section 179 from Crest Capital.