FYI - Taxing Issues...
(For the USA. Canadian customers - check with your Accountant)

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Enhanced Section 179 Deduction

The Section 179 limit has been permanently reinstated 
​retroactively (for 2015) and  at $500,000 with phase out starting at $2,000,000 and it will be indexed for inflation in future years. Most all types of equipment is eligible for Section 179 expensing, including machinery software and computers, trucks and trailers and other tangible goods.

Bonus Depreciation
Think Equipment Updates

50% Bonus Depreciation was extended through calendar year 2019. Many can immediately expense (not capitalize) 50% of the cost of business equipment that is purchase and placed in service in 2015, 2016 and 2017. Bonus depreciation will then be reduced to 40% in 2018 and 30% in 2019 before it’s phased out completely in 2020 – unless the IRS extends the allowance again. 

Research and Development Credit

Don’t forget the Research and Development (R&D) tax credit. The R&D credit was made permanent and was also expanded. Guidelines – if your operation has less than $50,000,000 in average annual gross receipts, you can now claim the credit against your AMT (alternative minimum tax). If your company has less than $5,000,000 in annual gross receipts, you can take the credit against payroll taxes up to $250,000 per year – if you don’t have income tax liability.

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Check with your Accountant - there are some big tax incentives that were carried forward to 2022. Now's the time to Retool, Act today!