Section 179 Tax Deduction (capital equipment investment deduction)
The section 179 tax deduction is designed with businesses in mind. It is meant to be an incentive to encourage businesses to invest in themselves. It allows businesses to deduct the full purchase price of qualifying equipment up to $1,000,000 purchased or financed in the tax year. The code states that equipment must be placed into service between January 1, 2019, and December 31, 2019, to qualify for the deduction in the 2019 tax year.
Why am I telling you all of this?
Our current orders are being quoted out to November meaning that if you plan to take advantage of the write-off, you’ll need to get your orders in soon.
LS Industries wants to help you save money not only on your taxes but in your production. Our automated blasters, washers and vibratory equipment can significantly increase your productivity and reduce your labor costs.
Reference section179.org for more information regarding the tax deduction or consult your tax accountant.
Please contact LS Industries to see how we can help you.