Take Advantage of Section 179 Tax Deductions

What is Section 179?

Section 179 is a U.S. tax law designed to benefit small and medium businesses. It allows businesses to deduct the full purchase price of qualifying equipment from their gross income, as long as it was purchased and put into service during the tax year.
At Kagie Kubota, we offer a wide range of qualifying products, including tractors and construction equipment. Section 179 reduces overall tax liability and encourages business owners to invest in new equipment!

Benefits of Section 179 Deduction

The Section 179 Deduction can be incredibly advantageous for your business. First and foremost, it provides immediate expense deduction, which means significant tax savings and financial flexibility for your business. It also facilitates growth and scalability through the acquisition of new equipment, which in turn improves efficiency and productivity. With better equipment and a better bottom line, you can stay ahead of the competition and deliver high-quality results.

How to Claim Section 179 Tax Deductions

To claim your Section 179 tax deductions, you’ll need to fill out IRS Form 4562 and include it with your business tax return. Keep in mind that the deduction cannot exceed your business’s taxable income for the year, but any unused amount may carry forward to future tax years. Deductions may vary by state and by purchase, so it’s important to plan your elections carefully. Consult your tax advisor to confirm your eligibility for Section 179 deductions.