Section 179* encourages small business owners to invest in equipment or technology by allowing them to deduct the asset's value for the tax year in which it is purchased and put into service. The 2021 maximum deduction is $1,040,000 on purchases up to $2,590,000. You may be able to deduct purchases of new or used equipment, technology, and off-the-shelf software, but also many deduct certain improvements to non-residential property including roofs; heating, air-conditioning, ventilation systems; fire protection, alarm, and security systems. (Note: The improvements must be purchased and placed into service by December 31, 2021, and after the date the property was first placed in service). In addition, the first-year bonus depreciation is 100% on qualifying long-term assets. The bonus depreciation applies to both new and used property and the amount is scheduled to remain in effect until January 1, 2023.
A- Equipment Price
Tax Savings* (From F)
New Equipment Net Cost
0.00
0.00
0.00
* Watermark Medical, Inc.© does not provides tax advice. Please consult with a qualified professional tax advisor to determine your eligibility for a Section 179 tax deduction. Must purchase and place into service by December 31, 2021.
Watermark Medical, Inc.© does not provide financial advice. Please consult with your financial advisor. Watermark Medical, Inc.© is not a bank and does conduct banking activities.