Section 179 Show

SECTION 179 AT A GLANCE

2022 Deduction Limit = $1,000,000
This deduction is good on new and used equipment, as well as off-the-shelf software. This limit is only good for 2022, and the equipment must be financed/purchased and put into service by the end of the day, December 31, 2022.


Cost of Equipment:
Section 179 First Year Write-Off:
100% Bonus Depreciation: (On any remaining amount above $1,000,000)
Normal First Year Depreciation:
Total First Year Deduction:
Tax Savings on Equipment Purchase: (Assuming a 35% tax bracket)
Lowered Cost of Equipment after Tax Savings:

2022 Spending Cap on equipment purchases = $2,5000,000
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true "small business tax incentive".

Bonus Depreciation: 100% for 2022
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. Note: Bonus Depreciation is available for new equipment only.

CALCULATE YOUR TAX DEDUCTION

If you have any questions regarding the Section 179 tax deduction or would like more information, please contact us at sales@hermance.com / sales@hermance.com

Section 179 Show

SECTION 179 AT A GLANCE

Cost of Equipment:

Section 179 First Year Write-Off:

100% Bonus Depreciation:

Normal First Year Depreciation:

Total First Year Deduction:

Tax Savings on Equipment Purchase:

Lowered Cost of Equipment after Tax Savings:

CALCULATE YOUR TAX DEDUCTION