Auto Truck Group Offers Section 179 Advice
Photo courtesy of Auto Truck Group.
The Auto Truck Group is urging small businesses to take advantage of the federal Section 179 deduction on equipment that allows a deduction of as much as $500,000 on new and used equipment purchases.
The equipment must be placed into service by Dec. 31, according to the company. The Internal Revenue Service has capped expenditures at $2 million under the program. Companies can also take advantage of bonus depreciation after the spending cap is reached with a 50% deduction, according to the upfitter.
For more information about qualifying financing, visit this link.