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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.

NYS FFA Convention

Last week, Monroe Tractor participated as a 2-star sponsor for the NYS FFA State convention. Over 2,000 students and their advisors came to the Buffalo Convention Center to participate in three days of seminars and competitions, and to interact with the colleges and companies that hire these individuals. These students were not only focused on […]

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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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