Monroe Tractor

Section 179 Tax Savings and Bonus Depreciation 2022

Great news for 2022! 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 2022! Purchase new or used equipment and place it into service by 12/31/22*

  • Taxpayers can deduct the full cost of equipment from their 2022 taxes up to $1,080,000, with total equipment purchased for the year threshold of $2,700,000. New and used equipment is eligible for expensing.
  • Equipment must be purchased and placed into service during 2022 to qualify.
  • Taxpayers can take both Section 179 and Bonus Depreciation allowances, but Section 179 must be applied first, and any amount over the $1,080,000 limit may then be taken in Bonus Depreciation.
2022 Section 179 and bonus depreciation example calculation.

Use this calculator to estimate your total savings.

  Total 2022 equipment purchases   $2,700,000
  Section 179 deduction   $1,000,000
  Bonus depreciation deduction   $1,700,000
  Section 179 and 100% bonus depreciation total   $2,700,000
  Potential tax savings, assuming a 21% tax
bracket
  $567,000

*Consult your tax advisor for more details.

Monroe Tractor Appears in Construction Equipment Guide

Walter D. Hewins Jr. began a small excavating operation in 1952 which has grown into a fleet of 15 machines and as many as 6 to 10 employees. Their loyalty to Case products and Case dealers made a relationship with Monroe Tractor a perfect match. Both companies boast multi-generational family businesses built on customer first […]

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Monroe Tractor Names New Branch Manager for their Adams Center NY location.

New to our team – Jeffrey Rehley, Branch Manager, Adams Center At Monroe Tractor we strive to bring the best products while backing them up with the first-rate customer service and sales support you deserve. To help you with your business solutions we are excited to announce Jeff Rehley as Branch Manager for our Adams […]

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Section 179 Tax Savings and Bonus Depreciation 2022

Great news for 2022! 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 2022! Purchase new or used equipment and place it into service by 12/31/22* Taxpayers can […]

Read More Read More