.png)
Did you know IRS Section 179 allows your company to deduct the full cost of qualifying new, or newly purchased used equipment, from your 2022 taxes, with a max deduction of up to $1,080,000?
Under IRS Section 179, machinery and equipment purchased for trade or business qualify as real property. Taxpayers are now allowed to deduct the cost of the property as an expense when this property is placed in service.
For more information, read more on the IRS website here.
If you’re looking to add to your equipment fleet, there has never been a better time than now! The spending cap is $2,700,000 before the deduction phases out on a dollar-by-dollar basis.
An additional incentive is businesses can also depreciate 100% of the cost of the new equipment acquired and put into service by the end of the year. Be sure to take advantage of this 100% Bonus Depreciation incentive NOW because it ends starting in 2023.
Whether you’re looking to add sewer robots, manhole rigs, curing monitoring systems, or UV curing systems, Vortex has all the equipment for your business.
You MUST purchase and put all equipment into service by 12-31-2022 to take full advantage of this expense allowance!
NOTE: Tax rules will be dependent on your specific tax situation. Please consult your tax advisor.
To learn more about which Vortex products qualify or request a meeting with someone from our team to go over your specific needs, contact us: here.
Sales Contacts | Brock Stone 1+ 330.598.3798 | Ryan Graham 1+ 281.639.3237