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The winters in Philadelphia can be as harsh as the fans when their beloved Eagles are losing. And like upset fans, cold weather can take a toll on the game, but in a far different way…
First large urban jail in the country to install roof-based solar water heating system Philadelphia, December 4 – Mayor Michael A. Nutter unveiled today a roof-based solar water heating system…
Student Restrooms Receive a Facelift with VERGE® Natural Quartz and Granite Multi-User Lavatories, AERADA® Faucets and NAVIGATOR® Thermostatic Mixing Valves Challenge Did anyone see the movie…
For the 2016 tax year, the Section 179 Tax Deduction Limit has been raised back to $500,000, the increased level in effect in 2013 and is not reduced until the cost of section 179 property placed in service exceeds $2 Million.
Understanding The Section 179 Deduction. Click this link to see how Section 179 can benefit your business in 2016.
What you should know:
When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation – unless the business has no taxable profit in the given tax year.
Original Equipment Cost: $500,000
2016 Potential Tax Savings: $175,000
Final Equipment Cost: $325,000
Cash Savings on Equipment Purchase: $175,000