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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.

CLAAS Customer Event

Last week, Monroe Tractor hosted a customer event in celebration of CLAAS’s remarkable 50 years of excellence in forage harvesting. The event, held at the Turning Stone Casino, was filled with networking opportunities, machine walk-arounds, and insightful Q&A sessions. Monroe Tractor welcomed more than 130 customers that represented 55 farms in our area! The event […]

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Monroe Tractor Hosts Employee Training Event

Last week, Monroe Tractor proudly welcomed Technicians, Product Support Representatives, and our Equipment Sales Representatives for a week of training and networking. The event, spearheaded by Store Managers and Directors, showcased Monroe Tractor’s commitment to providing customers with expert service and support. Attendees were treated to a series of informative sessions, covering a wide range […]

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Welcomes Mike Hellinger, Equipment Sales Representative!

Monroe Tractor welcomes Mike Hellinger, Equipment Sales Representative to their Springville store. At Monroe Tractor, we strive to bring the best products and the best in customer service, which is why we are excited to announce Mike Hellinger has rejoined the Monroe Tractor family at our Springville, New York location. Mike Hellinger – Equipment Sales […]

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