Section 179: How to Get the Most Out of the Section 179 Deduction

Is your business in need of new equipment and software? Are you holding off on acquiring equipment because of capital constraints or other concerns, like conserving your cash?

Consider the tax saving advantages of the Section 179 tax benefit. In 2017 the deduction limit was permanently raised to $1,000,000 and indexed for inflation. That means you’re able to deduct up to $1,050,000 in 2021 for the purchase of new or used equipment, software, and other assets.
If you couple this dollar-for-dollar reduction to taxable income with LEAF’s customizable payment plans, long overdue asset acquisitions are more affordable than ever. So is the equipment you need to expand your business.

LEAF has several resources to get you started.

You can use our Section 179 Savings Calculator to see firsthand how taking advantage of Section 179 can help you manage your taxes.

For more information, see our other Section 179 resources below.

Section 179 Tax Savings Calculator

Input Equipment Cost:

Section 179 Saving Results:

Section 179 Deduction:

100% Bonus Depreciation:
(on remaining amount exceeding $1,050,000)

Regular First Year Depreciation Deductions:
(assuming five-year property)

Total First Year Deduction:

Tax Savings on Your Equipment Purchase:
(assuming a 21% tax bracket*)

Cost of Equipment After Tax Savings*:

For a quick overview of Section 179, view the infographic provided here.

View the Infographic

For more details, take a look at LEAF’s whitepaper on this important and powerful tax saving benefit.

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For answers to some of the most common questions about Section 179, take a look at our How to Guide.

View the How to Guide

Contact us today to learn more about Section 179 and how LEAF can build you a custom payment plan that is right for your business at 800.819.5556.

Terms and Conditions: All applications are subject to credit approval. LEAF finances equipment only for business purposes and not for personal, family, or household use. The above is for informational purposes only and is not intended as tax or legal advice. Always check with your accountant or tax advisor to verify your eligibility for any tax deduction.