Tax Savings

By financing your equipment project, you can actually earn a profit from your Section 179 Tax Deduction!  Why?  Because your business may be able to deduct the full purchase price of the project for the current year's taxes, but only pay a fraction of the financed amount with monthly payments.  The amount you save in taxes can actually exceed the payments you make during the taxable year.

Effective 9/27/2010, H.R. 5297 (the Small Business Jobs and Credit Act of 2010) implimented several initiatives. One such initiative increased Section 179's limits under the HIRE Act of 2010.  This means a substantial boost to your bottom line for 2010 and 2011.

Key Changes:

- Increased maximum deduction from $250,000 to $500,000

- Increased maximum equipment purchases to $2,000,000 (from $800,000)

- 2010 50% Bonus Deduction for purchases over $500,000

- Amounts over $2,000,000 decreased dollor for dollar deduction.

More Information:

♦ What is Section 179?

♦ What equipment qualifies for the Section 179 Deduction?

♦ Can I lease or finance equipment and still take the 179 Deduction?

♦ How do I elect to take the Section 179 Deduction?

Contact your Western Equipment Finance

representative to learn how your company or customer can benefit from Section 179!

Contact a legal or tax professional.  Western Equipment Finance is not responsible for providing tax advice.