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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.

Tauyna Trexler Promoted to Service Manager

Monroe Tractor promotes Tauyna Trexler as Albany’s Service Manager. 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 Tauyna Trexler from Service Writer to Service Manager. […]

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Veterans Awarded Geared to Give Machine

Monroe Tractor is proud to announce that Range Ranch, a veteran-owned and operated farm, has been awarded a Kubota BV4160 baler through its Geared to Give Program. The Geared to Give Program aims to provide veteran farmers with the necessary equipment to ensure the success and sustainability of their agricultural operations. Monroe Tractor is honored […]

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Mark Wisniewski Joins Syracuse Sales Team

Monroe Tractor Supports Syracuse Employee Transition. At Monroe Tractor, we strive to bring the best products and the best in customer service, which is why we support Mark Wisniewski’s decision to join Syracuse’s equipment sales team after serving as their Branch Manager. Mark Wisniewski – Equipment Sales Representative After serving 10.5 years as Monroe’s Syracuse […]

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