satisfaction100% Guaranteed
Free shippingon orders over $99
7 DayEasy return

Equipment, Supplies and Training for the Professional Refinisher

1-800-888-1081
0
You have no items in your shopping cart.

0

×

Registration

Profile Informations

Login Datas

or login

First name is required!
Last name is required!
First name is not valid!
Last name is not valid!
This is not an email address!
Email address is required!
This email is already registered!
Password is required!
Enter a valid password!
Please enter 6 or more characters!
Please enter 16 or less characters!
Passwords are not same!
Terms and Conditions are required!
Email or Password is wrong!

Purchased New Or Used Equipment? Know The Section 179 Tax Deduction.

TAX dayIf you’ve purchased, financed or leased equipment for your business recently, it pays to get familiar with a tax deduction you don’t want to overlook. It’s called the Section 179 Deduction and it allows a business owner to potentially deduct the full purchase price of the equipment. To qualify, you need to have purchased and used the equipment after January 1st of the tax year you’re claiming.

What are examples of equipment that qualify?

Here’s the good news: If you pass the calendar year test above, there are a number of items that you can possibly deduct, including:

  • Equipment purchased for business use
  • Computers
  • “Off-the-Shelf” computer software
  • Office equipment
  • Office furniture
  • Air conditioning and heating units (placed into service this year)

Even your business vehicle might qualify!

That’s right. If you use your car, truck or van for business more than 50% of the time and the vehicle has a gross weight of above 6,000 lbs., you may qualify for expensing it up to $25,000. Remember to keep the business and personal lines firmly on the “business” side – you’ll be unlikely to be able to claim a deduction here if the vehicle was ever used in the past first and foremost for personal trips and is now primarily your business vehicle. If you just purchased the vehicle, it’s OK if you use it occasionally for personal reasons, but the more you use it for business, the better.

Starting this year, you can expense even more.

Thanks to a new bill signed by Congress in mid-December, businesses can deduct up to $500,000 on qualified purchases, including the ones under the Section 179 deduction mentioned here. So if your purchases qualify, you may be in for more tax relief than you thought.

Use it or lose it!

If you’re going to write it off, you can’t wait until next year because any deductions you take on that equipment will expire on December 31st. So why not aim to write off the equipment you already bought and are using today?

Talk to a seasoned tax professional about your options for taking the Section 179 tax deduction by listing all of the possible equipment that may qualify. Any extra help from Uncle Sam to benefit your bottom line is always a good thing.

Steve Coven

In the early 1990’s Steve was looking for a new career. Someone told him about bathtub refinishing and he jumped in. It worked out well for him. He was good at it and quickly built a thriving business. Steve was purchasing his materials from NAPCO but he noticed the service deteriorating rather rapidly. Coming from a family with a strong entrepreneurial history, Steve approached NAPCO and purchased the company in 1992. Steve pledged to provide great service, always have in-stock what his customers needed and to continually innovate. His vision paid off as NAPCO has enjoyed strong growth due to loyal customers for which Steve is very thankful.

More Posts - Website
Follow Me:
Leave a Reply
  •  
Find A Refinisher

To find a refinisher click here