Purchase your lift trucks in 2017 to realize substantial tax relief.
Section 179 tax benefits may enable you to deduct the total value of your lift trucks purchased in 2017.
Section 179 Allowance:
The Protecting Americans from Tax Hike (PATH) Act of 2015, makes the Section 179 allowance permanent. Section 179 expensing is now set at the $500,000 level for qualifying new and used equipment. Businesses with over $2 million of purchases will have the expense deduction phase out dollar for dollar up to $2.5 million. In addition, the Section 179 cap is now indexed to inflation in $10,000 increments for future years.
The PATH Act extends and modifies the rules pertaining to bonus deprecation. The applicable bonus depreciation percentage will be 50% for equipment placed in service during 2015, 2016 and 2017. The applicable bonus depreciation percentage will be 40% for property placed in service 2018, and 30% for property placed in service in 2019.
For more details visit: http://www.section179.org/