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Section 179 Tax Savings and Bonus Depreciation

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Purchase new or used equipment and place it into service by 12/31/18*
  • Section 179 doubles to $1,000,000100% increase from 2017. Purchase, finance, and/or lease new or used equipment and place it into service by 12/31/2018 to qualify to write off the entire cost of your equipment on your 2018 tax return, up to $1,000,000.
  • 100% Bonus Depreciation now also applies to USED equipment — A 50% depreciation increase from last year plus 2018 used equipment purchases are now eligible. Equipment purchases much be new or “new to you,” and purchased and placed in service by 12/31/2018 to qualify.

 

2018 Section 179 and bonus depreciation example calculation**
Equipment purchase: $1,150,000
Section 179 deduction limit $1,000,000
100% Bonus first year deduction: $1,150,000
Normal 1st year depreciation:
(20% in each of 5 yrs on remaining account)
$0
Cash savings on your purchase:
($1,150,000 x 35% tax rate)
$402,500
Lowered cost of equipment:
(after tax savings)
$747,500

 

*Consult your tax adviser for more details.
**Example of $1,150,000 equipment purchases in 2018.

New Albany sales representative!

Monroe Tractor Welcomes Keith Tanny as Sales Representative in Albany Location. At Monroe Tractor, our commitment to our customers is simple, “We are here to keep you doing your job.” With that mission in mind, we’re excited to welcome Keith Tanny to our Albany branch as an Equipment Sales Representative. Keith will be serving Southern […]

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Happy retirement, Dave!

Today we celebrate the retirement of Dave Fassinger from Monroe Tractor Syracuse! After nearly four decades of dedication, hard work, and unwavering commitment, Dave is officially hanging up his hat and heading into retirement. Dave has been an incredible part of the Monroe Tractor team. His knowledge and teamwork have left a lasting mark on […]

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New Westborough sales representative!

Monroe Tractor Welcomes James Colburn as Sales Representative Covering Essex and Northern Middlesex Counties At Monroe Tractor, our commitment to our customers is simple, “We are here to keep you doing your job.” That’s why we’re excited to welcome James Colburn to our Westborough location as a Sales Representative serving Essex and Northern Middlesex Counties. […]

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