Business Equipment Tax Deduction Benefits 2023

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

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