Are you a business owner wondering how the Section 179 tax deduction can benefit your bottom line? We've got your back! At Kubota Center, we understand the importance of managing your expenses and maximizing savings. We've helped countless businesses across Arkansas, Missouri, and Oklahoma decrease the overall cost of new equipment by taking advantage of Section 179. Let's take a look at some important information on Section 179, and how you can grow your fleet without breaking the bank!
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 Kubota Center, we offer a wide range of qualifying products, including tractors, construction equipment, and agricultural tools. Section 179 reduces overall tax liability and encourages business owners to invest in new equipment!
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.
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. If you have any questions regarding Section 179, your local Kubota Center is here to help! Visit any of our six locations, or fill out the form below, for expert advice and friendly service. We look forward to helping you take advantage of Section 179!
