Apply for financing a hydraulic hammer/breaker or other attachment with Western Equipment Finance for more information, contact:
Vice President, National Business Development
Western Equipment Finance
A subsidiary of Western State Bank
Business owners who acquire equipment (i.e. hydraulic hammer) for their business may elect an enhanced deduction in a single tax year, rather than a little at a time over a number of years. This deduction is known by its section in the tax code, a Section 179 deduction. Businesses may write off up to $1,000,000 per year if they spend less than $2,500,000 on qualified equipment. In addition, bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation now includes used equipment.
If you were considering a major purchase in 2024 or beyond and planned to use bonus depreciation, perhaps bumping that purchase to 2023 makes sense (80% depreciation this year vs. 60% next, and so on). In addition, finance rates are predicted to keep rising so if you were planning to finance your purchase, there’s another advantage to buying earlier.
Calculate your savings with Section 179
Toll Free: 1-888-651-0187
Outside US: 1-727-282-5288