Posted: January 9, 2018 Filed under: Forklift Equipment, Material Handling, Uncategorized, Used Forklifts | Tags: chicago, new forklift, new lift truck, Section 179, used forklift, used lift truck, west chicago
With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on equipment purchases likewise has increased to $2.5 million.
Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also now includes used equipment.
See the fully updated 2018 Section 179 Calculator to see how this tax deduction affects your company.
2017 Section 179 Tax Information (Last Year)
The Section 179 deduction is $500,000 for 2017, with a 50% bonus depreciation in place until late September (see 2018 information for change).
Click Here for the fully updated Section 179 Calculator for tax year 2017 (Last Year).
Answers to the Three Most Common Section 179 Questions
How Much Can I Save on My Taxes in 2018?
It depends on the amount of qualifying equipment and software that you purchase and put into use. See the handy Section 179 Calculator that’s fully updated for 2018, and includes any/all increases from any future legislation.
What Sort of Equipment Qualifies in 2018?
Most tangible business equipment qualifies. Click here for qualifying property.
When Do I Have to Do This By?
Section 179 for 2018 expires midnight, 12/31/2018. If you wish to deduct the full price of your equipment from your 2018 taxes and take advantage of the new higher deduction limits, it must be purchased and put into service by then.
Many businesses are finding Section 179 Qualified Financing to be an attractive option in 2018, especially since the expected Federal Discount Rate increases don’t leave much time for action. Please apply today.
More Section 179 Deduction Questions Answered
Welcome to Section179.Org, your definitive resource for all things Section 179. We’ve brought together a large amount of information regarding Section 179, and clearly and honestly discuss the various aspects of IRS §179 in plain language. This will allow you to make the best possible financial decisions for your company.
Section 179 can be extremely profitable to you, so it is to your benefit to learn as much as possible. To begin, you may have a lot of questions regarding Section 179 such as:
Check out our line-up of new forklifts or used forklifts, then contact us at 888-530-1832 for more information or a quote.
Posted: June 7, 2016 Filed under: Forklift Equipment, Uncategorized, Used Forklifts | Tags: chicago, Pre-Owned Forklift, Used 3 Wheel Forklift, Used 3 Wheel Lift Truck, Used CLARK Forklift, Used Electric Forklift, used forklift, west chicago
The latest addition to our fleet of pre-owned forklifts is this 2010 CLARK TMX17 Pre-owned Forklift. The TMX continues the evolution of our three-wheel design with the efficiency, low maintenance and power of a 100% AC System. This rugged yet comfortable design delivers superior capacities and the quality, dependability and maneuverability you’ve come to expect from CLARK; the inventor of the three-wheel forklift.
- 188″ Triple Stage Mast
- 3650 Hours
- 36 Volts
- 3,500lb Capacity
- $18,900 Plus Tax and Delivery
See our entire inventory of pre-owned forklifts. For more information on any of our used forklift, please contact Dan Choate at 888-530-1832.