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’s Westborough location receives “New Large Business” award.

  On Friday, April 29, Monroe Tractor’s Westborough MA location was recognized by Westborough’s Economic Development Committee and were honored the “New Large Business” award. Marketing Director, Laura Wilkas and Branch Manager, Dan Duhn were there to accept the award. Check out the video to learn more about the event. https://www.youtube.com/watch?v=LoTPAWiN1XM Laura Wilkas, Monroe Tractor’s […]

Read More Read More

Adam Krenning, Service Manager, Bataiva

New to our team – Adam Krenning, Service Manager for our Batavia New York location. His responsibilities will be: Building an industry-leading training plan Providing technician and customer support Providing excellence on every job Adam Krenning – Service Manager Adam, was born and raised in Albion, New York on his families 300 Sow farrow to […]

Read More Read More

Mark Wigglesworth, Product Support Representative, Connecticut

New to our team – Mark Wigglesworth, Product Support Representative. We strive to bring the best products and the best in customer service. This is why we are excited to announce Mark Wigglesworth as Product Support Representative for our South Windsor, Connecticut team. His responsibilities will be: Guide in increasing customer’s profit and productivity Provide […]

Read More Read More