EXPANDED LIMITS FOR 2014 SECTION 179 LAW
Section 179 got a nice boost with the "Tax Extenders Bill" just passed at the last minute by Congress in December 2014. But to take advantage of the current deduction and any retroactive raise, you must buy the equipment (and place it into service) by 12/31/2014.
Section 179 Tax Deduction Limits for year 2014:
The Section 179 Deduction is currently $500,000 for 2014. This means businesses can deduct the full cost of equipment from their 2014 taxes, up to $500,000. Plus, the 50% bonus depreciation has returned as well, making Section 179 a fantastic deal for 2014.
Small and Medium Businesses Benefit the Most
Section 179 is a true small to medium business tax deduction. The deduction is unaffected until $2,000,000 in equipment purchases is reached (where it then decreases on a dollar for dollar basis.) This means, at current limits, if a business buys $2,500,000 worth of equipment, their Section 179 deduction is reduced to zero. But until then, enjoy the break.
About the limits
Most small and medium businesses will greatly benefit by taking the Section 179 deduction. But to take advantage of it, the equipment must be purchased and put into service by 11:59pm, 12/31/2014 (in other words, when the New Year starts, Section 179 for 2014 is over.) Browse our inventory and then call us today and take advantage of this last minute tax break!
A Look Towards 2015
For 2015, Section 179 is scheduled to return to the old $25,000 limit, ACT NOW!
Valco Equipment, located in Canton, Ohio has been providing sales, rentals, parts and service to its customers in Canton, Akron, Columbus and the Greater Cleveland area since 1987. Equipment lines include Gehl, SkyTrak, Genie, Lull, JLG, Skyjack, Snorkel, Wacker Neusen, Terex and Manitou. New machines include factory warranty and our used machines are completely inspected, repaired as needed and often come with a written limited warranty. In Cincinnati Highlift Equipment has been providing sales, rentals, parts and service of quality new and used construction equipment such as compact excavators, skid steers, track loaders, telehandlers (rough terrain forklifts), boom lifts, scissor lifts and light towers. Highlift serves the Greater Cincinnati area including Hamilton, Springfield, Dayton and Kettering.
In addition to new and used equipment we offer quick delivery for most new replacement parts and new and used attachments, at very competitive prices. We sell Gehl, SkyTrak, Lull, Genie, Snorkel parts to support our equipment lines but in addition we also sell new parts for Takeuchi, Pettibone, Carelift, Gradall and Thomas. Our attachment partners include Blue Diamond, Star Industries, Arrow Material Handling, CEAttachments and Haugen Attachments offering skid steer attachments, track loader attachments and telehandler attachments.
In both locations, we have experienced, factory trained service technicians who can fix your equipment right the first time and recondition your older machines. Our new and used equipment, attachments and replacement parts are shipped anywhere in the world. We accept all major credit cards.
Call us today and allow us the privilege of serving you.