Monroe Tractor

Section 179 Tax Savings and Bonus Depreciation 2017

179_both_text

Purchase new or used equipment and place it into service by 12/31/17*
  • Taxpayers can expense up to $500,000 in purchases for 2017, as long as total purchases don’t exceed $2 million and certain taxable income limitations are met. New and used equipment is eligible for expensing.
  • Bonus Depreciation for new equipment purchases this year, allowing 50% bonus depreciation in addition to normal depreciation. Equipment must be purchased and placed in-service during 2017 to qualify.
  • Apply the additional standard depreciation of 20% per year for another five years.

 

2017 Section 179 and bonus depreciation example calculation
Total 2017 equipment investment $750,000
Section 179 deduction limit $500,000
Additional 50% bonus depreciation $125,000
20% MACRS depreciation (assuming a 5-year life and $250,000 remaining basis) $25,000
Total 2017 tax deduction: $500,000 + $25,000 + $125,000 $650,000
Potential tax savings in first year (assuming a 35% tax rate) $227,500

 

*Consult your tax advisor for more details.

Monroe Tractor Attends Case Dealer Meeting

Monroe Tractor Attends The Case Dealer Meeting in Dallas Build, Grow, Win Together.   Case held a dealer meeting in Dallas, TX earlier this month and it was the first in several years. Monroe Tractor sent our CEO, President and several Directors to this meeting to learned about the future of Case and the road […]

Read More Read More

Ray Parker, Wirtgen Group Sales Specialist, Syracuse

New to our team – Ray Parker, Wirtgen Group Sales Specialist. At Monroe Tractor we strive to bring the best products and the best in customer service, which is why we are excited to announce Ray Parker to our Syracuse New York location. Ray Parker – Wirtgen Group Sales Specialist Ray will serve our 12-county […]

Read More Read More

Keegan Wright, Equipment Sales Representative, Syracuse

New to our team – Keegan Wright, Equipment Sales Representative. Please welcome Keegan Wright as Equipment Sales Representative for our Syracuse location. His responsibilities will be: Develop new customers in the Central New York area Work with existing municipal and contractor accounts for sales and rentals Build relationships with our customer base Keegan Wright – […]

Read More Read More