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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.

NYS FFA Convention

Last week, Monroe Tractor participated as a 2-star sponsor for the NYS FFA State convention. Over 2,000 students and their advisors came to the Buffalo Convention Center to participate in three days of seminars and competitions, and to interact with the colleges and companies that hire these individuals. These students were not only focused on […]

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Monroe Tractor Names New Branch Manager for their Albany NY location.

Congratulations – Nick Nichols, Branch Manager, Albany At Monroe Tractor, our promise to our customers is “we are here to keep you doing your job.” We strive to bring the best products and the best in customer service, which is why we are excited to announce the promotion of Nick Nichols from Parts Manager to […]

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Monroe Tractor has you covered for all your aggregate needs!

Screens Soils, Aggregates and more Large feed opening Pile heights created by the discharge conveyor gives hours of uninterrupted processing time

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