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-   -   Section 179 First-Year Deductions are Improved and Still Available (https://www.wanderlodgeownersgroup.com/forums/showthread.php?t=35199)

Kiwi3 11-06-2019 08:43 AM

Section 179 First-Year Deductions are Improved and Still Available
 
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While this doesn't apply to most of us, a few of you full timers and business people may want to take advantage of Section 179. The article is from Liberty Coach but it is for all equipment.

Quote:

The changes to the Section 179 deduction over the last several years are too numerous to mention, going all the way back to those implemented in 2008 by then President Bush. The latest change came with the passage and signing into law of the Tax Cuts and Jobs Act at the end of 2017. Until further notice, the Section 179 deduction has been increased to $1,000,000 for 2019 and beyond. The limit on equipment purchases likewise has increased to $2.5 million. Bonus depreciation is now 100%, was made retroactive to 9/27/2017, and is good through 2022. Also, bonus depreciation now includes used equipment.

badandy 11-06-2019 09:56 AM

I took advantage of that a few times, but then I ran out of room for machines. Argh.

DonB 11-06-2019 06:47 PM

I always hated dealing with depreciation, so 179 is/was a great thing not just for the immediate write-off financial benefit. I was never big enough or had enough capital purchases to hit the limits, so when 179 began in 1982 I was able to stop depreciating everything immediately. I don't remember what the early limits were, but my business was quite small back then.



I still had to deal with depreciation on older stuff, but the last one ran out in 1993 and it has been straight write-off since then.


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