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Section 179 Tax Savings and Bonus Depreciation 2021

Great news for 2021! We have new and used machines in inventory that are ready to be put to work.

Thanks to an increase in the Section 179 deduction limit you can now reduce your taxable income even more in 2021! Purchase new or used equipment and place it into service by 12/31/21*

  • Taxpayers can deduct the full cost of equipment from their 2021 taxes up to $1,040,000, with total equipment purchased for the year threshold of $2,620,000. New and used equipment is eligible for expensing.
  • Equipment must be purchased and placed into service during 2021 to qualify.
  • Taxpayers can take both Section 179 and Bonus Depreciation allowances, but Section 179 must be applied first, and any amount over the $1,050,000 limit may then be taken in Bonus Depreciation.
2021 Section 179 and bonus depreciation example calculation.

Use this calculator to estimate your total savings.

  Total 2021 equipment purchases   $2,620,000
  Section 179 deduction   $1,050,000
  100% bonus 1st year depreciation deduction   $1,570,000
  Section 179 and 100% bonus depreciation total   $2,620,000
  Potential tax savings, assuming a 21% tax bracket   $550,200

*Consult your tax advisor for more details.

Application Training

Monroe Tractor Hosts Employee Application Training Day Monroe Tractor Canandaigua recently hosted a comprehensive employee training day, emphasizing the importance of continuous learning and skill enhancement. The day was split into two sessions, with the morning focusing on sales and product knowledge, and the afternoon dedicated to service and technical training. This balanced approach ensured […]

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Case IH in New England.

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AFS Magnum and Steiger Training

On October 18th, Monroe Tractor hosted a Case IH training event, centered around AFS Magnum tractors and AFS Steiger tractors, to provide our sales team with in-depth knowledge about these powerful machines. Thank you to our Canandaigua store for hosting to this exceptional training day! Training days like this are how we deliver on our […]

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