Monroe Tractor

Section 179 Tax Savings and Bonus Depreciation 2017

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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.

Hydraulics Training at BOCES Batavia

Monroe Tractor Batavia and our Service Director visited BOCES Batavia for a hydraulics training session. They used an excavator simulator with the classes to allow students to practice their hydraulic control skills. The simulator taught students the ins and outs of how to use an excavator. They then used their new knowledge to compete in […]

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Thank you to our employees and customers

As we celebrate this milestone, let’s take a moment to reflect on where we’ve been and where we’re going. Monroe Tractor got its start in heavy equipment when founder Henry Hansen opened the original Henrietta Case Agriculture distributorship in 1951. In the late 50’s, Case began expanding its equipment lines with machines that were geared […]

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A cinder block building was just the beginning…

As we celebrate this milestone, let’s take a moment to reflect on where we’ve been and where we’re going. Monroe Tractor got its start in heavy equipment when founder Henry Hansen opened the original Henrietta Case Agriculture distributorship in 1951. In the late 50’s, Case began expanding its equipment lines with machines that were geared […]

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