Monroe Tractor

Section 179 Tax Savings and Bonus Depreciation

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Purchase new or used equipment and place it into service by 12/31/18*
  • Section 179 doubles to $1,000,000100% increase from 2017. Purchase, finance, and/or lease new or used equipment and place it into service by 12/31/2018 to qualify to write off the entire cost of your equipment on your 2018 tax return, up to $1,000,000.
  • 100% Bonus Depreciation now also applies to USED equipment — A 50% depreciation increase from last year plus 2018 used equipment purchases are now eligible. Equipment purchases much be new or “new to you,” and purchased and placed in service by 12/31/2018 to qualify.

 

2018 Section 179 and bonus depreciation example calculation**
Equipment purchase:$1,150,000
Section 179 deduction limit$1,000,000
100% Bonus first year deduction:$1,150,000
Normal 1st year depreciation:
(20% in each of 5 yrs on remaining account)
$0
Cash savings on your purchase:
($1,150,000 x 35% tax rate)
$402,500
Lowered cost of equipment:
(after tax savings)
$747,500

 

*Consult your tax adviser for more details.
**Example of $1,150,000 equipment purchases in 2018.

Monroe Tractor names Chris Felosky President

Janet Felosky has named her son, Chris Felosky, to the position of president of Monroe Tractor. Janet, who has served as president and CEO since 1990, will continue to serve in the capacity of CEO. “I’m greatly impressed with Chris’ energy, passion and most of all his humility,” she said. “I am confident that under […]

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CEO Janet Felosky inducted into college Hall of Fame.

On June 7, Janet Felosky, Monroe Tractor CEO, was inducted into SUNY Canton’s Hall of Fame as a Distinguished Alumni. She was recognized for her accomplishments in business and leadership alongside seven other recipients. She received this accolade with her husband Greg Felosky and son Chris Felosky at her side.   “With each Hall of […]

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The best training for the best service.

  Keeping technicians trained on the latest in new machinery is important at Monroe Tractor.  We want our customers to know their equipment is in the hands of someone who knows what they are doing and will get them up and running quickly. Recently we had 20 technicians from all 13 Monroe Tractor locations go […]

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