2016 Section 179 Tax Deduction Calculator

Have You Heard?

A new law was passed that significantly expands your Section 179 deduction limit. This means substantial cost savings for you on equipment purchases and leases in 2017.

Use the Below Calculator to Check Your Tax Write Off for 2017

Enter Cost of Equipment Here:

Section 179 Deduction:

Bonus Depreciation Deduction:

Normal 1st Year Depreciation:

Total First Year Deduction:

Cash Savings:

(assuming 35% rate)

Net Equipment Cost:

(after Tax Savings)

 

What is Section 179?

Section 179 allows a taxpayer to deduct/write off the full purchase price of certain equipment and/or eligible software acquired during the tax year, instead of requiring the equipment cost to be capitalized and depreciated over time.

This tax benefit expires on December 31, 2017.

How Does It Help You?

When you acquire equipment or eligible software, you usually have to write off portions of the value over time, as it depreciates.

Section 179 allows you to deduct 100% of the purchase price in the same year you buy the equipment.

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* The material provided is for information purposes only and is not meant to provide tax or financial advice. Please consult with your tax advisor. For the most up to date information, go to www.irs.gov.

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