Invest in Your Future with a Section 179 Deduction
Now is the time to invest in your future.
Put your money to work with a Section 179 Deduction.
Whether you’re a business of one or a company of one hundred, you may be missing out on a great opportunity to get more out of your dollars. The U.S. Government passed a year-end budget deal with a permanent Section 179. That means business owners who acquire equipment for their business can deduct the cost in a single year, rather than incrementally over a longer period of time.
What is the 2023 Section 179 Deduction?
With a Section 179 deduction, your business can deduct the entire cost of new equipment purchases right from the start. While you can’t technically deduct the entire cost of an item, Section 179 allows you to change the timing of taking that deduction. Taking the cost of the equipment as an immediate expense deduction allows your business to get an immediate break on taxes, as opposed to capitalizing and then depreciating the asset for smaller deductions over a longer period of time.
Equipment purchased under Section 179 must be used for business purposes more than 50% of the time to qualify for the deduction. According to the Internal Revenue Service, the maximum amount you can deduct for most 2023 section 179 purchases is $1,160,000, with a maximum limit to qualify at $2,890,000.
Don’t Miss Out on Big Returns
Now is the perfect time to expand your resources, and Hartwig can help you get the right equipment. Whether you need high-speed milling, swiss turning or you’re ready to make your own parts with cutting-edge technology like additive manufacturing, we’ve partnered with industry leaders and the highest caliber machine tool builders, to keep you ahead of the game. send us your part and we’ll have an engineer provide an optimization plan to maximize your productivity with new technologies, automation, machines, and more. But in order to receive the tax benefit for the 2023 tax filings, any new equipment must be physically in the shop by the end of 2023. Schedule a time today to visit our showroom and see our machines in action, or
We can help you get a head start with special financing on your next purchase from Industrial Equipment Capital, an industry leader in financing and leasing for manufacturing companies.
Contact a Hartwig Sales Engineer today and make the most of the Section 179 Deduction.
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