NEWS ALERT: SECTION 179 REMAINS $500,000 FOR 2017
Jan 1, 2017 – Section 179 is still affected by the “Protecting Americans from Tax Hikes Act of 2015” (PATH Act) that was signed into law on 12/18/2015. This bill expanded the Section 179 deduction limit to $500,000, where it will remain for all of 2017. For those interested, you may read the summary from the Ways and Means committee here.
Section 179 Deduction: Until further notice, Section 179 will be permanent at the $500,000 level. Businesses exceeding a total of $2 million of purchases in qualifying equipment have the Section 179 deduction phase-out dollar-for-dollar and completely eliminated above $2.5 million. Additionally, the Section 179 cap will be indexed to inflation in $10,000 increments in future years.
50% Bonus Depreciation will be extended through 2019. Businesses of all sizes will be able to depreciate 50 percent of the cost of equipment acquired and put in service during 2015, 2016 and 2017. Then bonus depreciation will phase down to 40 percent in 2018 and 30 percent in 2019.
IMPORTANT THIS YEAR: Section 179 for Current 2017 Tax Year
Section 179 can provide you with significant tax relief for this 2017 tax year, but equipment and software must be financed and in place by midnight December 31, 2017. Use this 2017 Section 179 Calculator to see how much the Section 179 tax deduction can save your company.
Highlift Equipment, located in Cincinnati, Ohio has been providing sales, rentals, parts and service to its customers in Cincinnati, Northern Kentucky, Hamilton, Springfield, Dayton and Kettering since 1968. Equipment lines include Gehl, SkyTrak, Genie, Lull, JLG, Skyjack, Snorkel, Terex and Manitou. New machines include factory warranty and our used machines , which includes equipment such as excavators, skid steers, track loaders, telehandlers (rough terrain forklifts), boom lifts, scissor lifts and light towers, are completely inspected, repaired as needed and often come with a written limited warranty.
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 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.
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.