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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 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 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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Support the Sweet family in their time of need.

Monroe Tractor mourns the loss of one of its own. Mark Sweet passed away unexpectedly on January 9th, 2023. He worked as a Road Service Technician for Monroe Tractor in Albany. Rhiannon Shuman, the Service Manager in Albany, shared the news with the rest of the company: The Albany team wanted to make everyone aware […]

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