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South Plainfield, NJ

Reminder: Your Business May Be Able to Expense Up to $500,000 in Work Truck Purchases in 2017

Reminder: Your Business May Be Able to Expense Up to $500,000 in Work Truck Purchases in 2017

Section 179 allows businesses to expense up to $500,000 in certain capital expenditures in the tax year 2017, including medium-duty trucks like Hino and Fuso.

Section 179 can provide significant tax relief for this 2017 tax year, but equipment and software must be financed and in place by midnight December 31, 2017.

Normally, capital expenditures are depreciable assets.  Section 179 allows your business to elect to treat the cost of qualifying purchases as an expense, rather than an asset. Your business’ tax situation is unique, so please consult your tax accountants or attorneys to determine how much tax savings, if any, Section 179 can provide.

Learn More about Section 179 and calculate your savings by visiting Section179.org

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