NEED ANY OF THESE? BUY NOW & LOWER YOUR TAXES FOR 2022
IRS Section 179 Tax Deduction
Many business owners are not aware that the IRS Section 179 Tax Deduction applies to new and used qualified equipment purchases and $1PO buy out lease financing. Through December 31, 2022, companies can deduct up to $1,000,000 worth of qualifying lease purchased ($1PO) equipment.
See sample below with details and depreciation expense limitations.
*Must be invoiced and paid for by December 31, 2022 in order to qualify.
Purchase your lift trucks in 2022 to realize substantial tax relief
Section 179 tax benefits may enable you to deduct the total value of your equipment purchased in 2022.
Section 179 Allowance:
The adjusted Section 179 allowance may allow you to deduct the total value of your equipment, and immediately improves your cash flow by reducing your tax burden in the year you purchase & put your lift trucks into service.
EXAMPLE OF A FORKLIFT PURCHASE OF $25,000
|Total 1st Year Deduction||$25,000.00|
|Potential 1st Year Tax Savings (35% Tax Bracket)||$8,750.00|
|After Tax Cost of Equipment||$16,250.00|