How does this tax deduction apply to you?
Whether buying new or used equipment, the Section 179 tax deduction applies. Most of the manufacturing equipment we offer, such as CNC routers, spindle motors, and CNC system controllers, are qualifying items. Some CNC software also qualifies for the deduction.
Examples of CNC Equipment You Can Write Off:
A CNC Router
A New Spindle Motor
A New CNC System
To qualify for the Section 179 deduction, the equipment or software must be used in the business and must be placed in service during the 2023 tax year. The equipment or software must also be depreciable, which means that it must have a useful life of more than one year.
Section 179 Tax Deduction Limits & Spending Caps
Where can I get more information about Section 179?
If you are a small business owner and are thinking about investing in equipment for your company, call your tax preparer to see how much you can save with Section 179. Beneficial information as well as tools in regard to this deduction can be found at: http://www.section179.org/