Are you taking full advantage of your business equipment tax deduction? Learn more about the benefits you could be cashing in on in 2023 from the Tax Cuts & Jobs Act of 2017.
Business Equipment Tax Deduction CNC Benefits
Benefits from the Tax Cuts & Job Act of 2017
2023 Section 179 Deduction Limit:
$1,160,000 for equipment put into service by 12/31/2023.
2023 Limit on Capital Purchases:
Section 179 Deduction is phased out $1 for $1 above the $2,890,000 equipment purchase threshold.
2023 Bonus Depreciation:
80% Bonus Depreciation is allowed on qualified NEW and USED equipment put into service by 12/31/2023