2013 Tax Incentives for Manufacturing Companies
Section 179 Federal Income Tax Deduction: $500,000 Write-Off
This deduction allows a company to deduct the first $500,000 of equipment (Section 179 Property) purchased in 2013 from their taxable income. For companies purchasing (or leasing - with a $1 or $101 buyout) up to $2,000,000 of equipment in 2013, this deduction is available in full. It then phases out on a dollar-for-dollar basis for amounts over $2,000,000.
$1 and $101 buyout leases qualify!
50% Bonus Depreciation for Machinery in 2013
Additionally, companies can take 50% bonus depreciation on the adjusted basis of their qualified equipment purchased in 2013. Equipment must be purchased and placed into service on or before December 31, 2013.
Companies may be eligible for standard depreciation, plus state or local tax incentives.
Now is the time to invest in new equipment!
Always check with your accountant to confirm eligibility for tax benefits.
|Contact National Machine Tool Financial:
Mr. Rick Lang
80 N. Gordon
Elk Grove Village, IL 60007
Ph: 800-669-7527 x1253
|Contact Geneva Capital:
Mr. Mike Tripp
522 Broadway Street, Ste 4
Alexandria, MN 56308