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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.

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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