2020 is almost here! While the end of the 2019 is upon us it’s easy to get bogged down with wrapping up the end of the year, and planning for the new year.
All business owners should not forget about the IRS Section 179 (https://www.section179.org/). This is a great opportunity to take advantage of the generous Internal Revenue Code expensing and/or bonus depreciation rules for equipment before 2019 ends.
Section 179 allows you to expense up to one million dollars of equipment purchases for 2019 with a limit on equipment purchases of $2.5 million. Further, the bonus depreciation is 100% and now includes used equipment as well as new.
We recommend consulting your tax advisor for benefits you can take advantage of before year end. For more information about the plotters that are available please contact us.