Tag: packaging equipment tax deduction

Section 179: Packaging Equipment Tax Deduction for 2019

Section 179 tax deduction - IPS Packaging

Section 179 explained Essentially, this section of the IRS tax code lets businesses deduct purchase prices of equipment and/or software during the tax year. Tax codes can get complicated and messy, but this one is pretty straight forward. If you purchase or finance equipment during 2019, you can deduct the full purchase price from your gross income. Section 179 really invites businesses to invest in themselves with larger purchases such as packaging equipment. The Tax Cuts and Jobs Acts has

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Equipment tax incentive increase for 2018

automatic packaging equipment

*Updated 05-18-18* 1 million dollars Hopefully you read that in your best Austin Powers voice. That’s because the equipment tax incentive for 2018 is increasing. Up from a $500,000 deduction in 2017, this years tax deduction doubles to $1,000,000. It feels good to type out all of those zeroes and they’ll help your bottom line and giving you incentive to make 2018 the year to purchase automatic packaging equipment… mmm savings. How the equipment tax incentive works The Section 179

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