Monroe Tractor

Section 179 Tax Savings and Bonus Depreciation 2019

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Purchase new or used equipment and place it into service by 12/31/19*
  • Taxpayers can deduct the full cost of equipment from their 2019 taxes up to $1,000,000, with a total equipment purchased for the year threshold of $2,500,000. New and used equipment is eligible for expensing.
  • Equipment must be purchased and placed in-service during 2019 to qualify.
  • Tax payers can take both Section 179 and Bonus Depreciation allowances, but Section 179 must be applied first, and any amount over the $1,000,000 limit may then be taken in Bonus Depreciation.

 

2019 Section 179 and bonus depreciation example calculation
Total 2019 equipment investment $750,000
Section 179 deduction limit $750,000
Bonus depreciation deduction (100% in 2019) $0.00
Normal first year depreciation $0.00
Total first year deduction $750,000
Potential tax savings in first year (assuming a 35% tax rate) $262,500

 

*Consult your tax advisor for more details.

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