Dear Charlie et al.;
Up pops this on my e-mail...
"
The Section 179 Tax Deduction (Obviously US Tax Law)
How You Can Take Advantage, Now Thru December 31, 2011
From now through the end of the year, businesses can take advantage of a special stimulus tax law that allows 100% of a an equipment purchase to be deducted on their 2011 return. You can take the deduction when buying new or used equipment or vehicles for your business, even if you’re financing the purchase. More details are below.
Here’s an example of how the Section 179 savings can work:
•Bid and win an auction lot for equipment costing: $40,000
•Total first year deduction on federal taxes: $40,000
•Tax Savings on the purchase $14,000
(Assumes a tax bracket of 35% and sufficient offsetting earnings)
•Lowered cost of equipment, factoring in the tax savings: $26,000
Many people have heard about Section 179 and think it’s a complicated tax strategy for big companies making big capital investments. It’s not complicated, and even the smallest company or partnership stands benefit if their purchases qualify.
Your business can lease or finance equipment and then take the IRS Section 179 expense deduction, so you’re saving the cash outlay currently, but you’re deducting the entire purchase amount. This means that the amount you save in taxes can actually exceed your loan payments, enhancing the company’s cash flow and getting the equipment you need now.
2011 Deduction Limit - $500,000 (up from $250k previously). Good on new and used equipment
2011 Limit on equipment purchases - $2 Million Dollars (up from $800k previously)
The deduction represents a special opportunity; normal depreciation schedules (generally 20% per year for 5 years) will most likely replace 100% Section 179 deductions for purchases made in 2012.
For more information consult your tax advisor or accountant, or read more on the IRS Website.
To be competitive... in Canada and Alberta... we neeed a 'level playing field!' Go after Brad on this one!!!!
A 'Strong Stable Majority Wildrose Danielle Smith Team' would work to do exactly this!
OH Dear... they say this can't be done... cause it's federal... I call your BLUFF... 'Progressives' WE MUST give our growers the tools to lower costs and be more efficienT.
NOTHING is IMPOSSIBLE! We CAN DO much MUCH BETTER!!!
WE can get from here to there... all that is needed... is to add a 'T'!!!
Thats "TomJackson1.ca"!!!
Opps... i skipped a cogg for a moment!!!
Up pops this on my e-mail...
"
The Section 179 Tax Deduction (Obviously US Tax Law)
How You Can Take Advantage, Now Thru December 31, 2011
From now through the end of the year, businesses can take advantage of a special stimulus tax law that allows 100% of a an equipment purchase to be deducted on their 2011 return. You can take the deduction when buying new or used equipment or vehicles for your business, even if you’re financing the purchase. More details are below.
Here’s an example of how the Section 179 savings can work:
•Bid and win an auction lot for equipment costing: $40,000
•Total first year deduction on federal taxes: $40,000
•Tax Savings on the purchase $14,000
(Assumes a tax bracket of 35% and sufficient offsetting earnings)
•Lowered cost of equipment, factoring in the tax savings: $26,000
Many people have heard about Section 179 and think it’s a complicated tax strategy for big companies making big capital investments. It’s not complicated, and even the smallest company or partnership stands benefit if their purchases qualify.
Your business can lease or finance equipment and then take the IRS Section 179 expense deduction, so you’re saving the cash outlay currently, but you’re deducting the entire purchase amount. This means that the amount you save in taxes can actually exceed your loan payments, enhancing the company’s cash flow and getting the equipment you need now.
2011 Deduction Limit - $500,000 (up from $250k previously). Good on new and used equipment
2011 Limit on equipment purchases - $2 Million Dollars (up from $800k previously)
The deduction represents a special opportunity; normal depreciation schedules (generally 20% per year for 5 years) will most likely replace 100% Section 179 deductions for purchases made in 2012.
For more information consult your tax advisor or accountant, or read more on the IRS Website.
To be competitive... in Canada and Alberta... we neeed a 'level playing field!' Go after Brad on this one!!!!
A 'Strong Stable Majority Wildrose Danielle Smith Team' would work to do exactly this!
OH Dear... they say this can't be done... cause it's federal... I call your BLUFF... 'Progressives' WE MUST give our growers the tools to lower costs and be more efficienT.
NOTHING is IMPOSSIBLE! We CAN DO much MUCH BETTER!!!
WE can get from here to there... all that is needed... is to add a 'T'!!!
Thats "TomJackson1.ca"!!!
Opps... i skipped a cogg for a moment!!!
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