'Tax Incentives Information and Calculator for Equipment Purchases, Financing, & $1.00-Out Leases!

Businesses purchasing, financing, or leasing (Capital or $1.00 types) new or used equipment in 2020 can elect to expense up to $1,000,000 this year under IRS Section 179. The Section 179 rules are designed for small companies, so the $1,000,000 write-off is reduced dollar-for-dollar as total equipment purchases exceed $2,500,000 in a calendar year.

In addition to the Section 179 deduction, Bonus Depreciation has been increased to 100% and is now allowed for both new or used equipment that is purchased, financed, or leased (Capital or $1.00 types) and placed into service before Jan. 1, 2021, regardless of the amount of new equipment purchased in a calendar year resulting in huge tax savings for purchases.

Let's examine your purchase:

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*Equipment put in service in first 3 quarters of the tax year (reduced in 4th quarter)

The information presented above is not specific legal, tax or accounting
advice. Consult an accountant or other tax professional to confirm your
eligibility for tax incentives and benefits.

For additional information, please contact:
Glen Mueller
Regional Sales Manager
(847) 871-4205 Direct
glen.mueller@firstmidwest.com