KEEP MONEY IN YOUR POCKET!
Discover how JET Tools can help you save big by allowing you to deduct up to 100% of your equipment purchases this year!*
WHAT IS THE SECTION 179 DEDUCTION?
Section 179 might sound like complicated tax jargon, but it’s actually a straightforward incentive for businesses to invest in their future.
Under Section 179 of the IRS tax code, businesses can deduct the entire purchase price of qualifying equipment and software purchased or financed during the tax year. This means if you buy or lease eligible equipment, you can deduct the full amount from your gross income, putting more money back into your business.
HERE’S HOW SECTION 179 WORKS:
In previous years, businesses typically deducted equipment costs gradually, through depreciation. For instance, if your business bought a $50,000 machine, you might have only been able to deduct $10,000 per year over five years.
With Section 179, your business can now deduct the full cost of qualifying equipment in the same year you purchase it. So, if you invest in a $50,000 machine, you can write off the entire amount on your 2024 tax return.
For small businesses*, this deduction allows up to $1,220,000 in qualifying equipment to be written off on your 2024 tax return—enabling you to invest in growth today rather than spreading it out over years.
Click Here to see how much you could save!
To help you choose the right equipment for your shop that qualifies for Section 179, reach out to one of our knowledgeable JET distribution partners.
Find Out More about Section 179
*As always, see your Tax Professional for details and qualifications.
