Tax Incentives: Section 179
Tax provisions accelerate depreciation on qualifying business equipment, office furniture, technology, software and other business items. When you finance such purchases with Axe Business Funding, you may deduct a significant portion, up to $1,040,000 in 2020 (to be adjusted for inflation in future years). There is a dollar-for-dollar phase out for purchases over $2.59 million. Additionally, for 2020 bonus depreciation remains at 100% on qualifying assets. Consequently, not only will Section 179 help bolster your bottom line, you garner the benefits of new equipment and technology that will help grow your business.
To capture these tax savings, qualifying property must be placed in service before December 31, 2020. Simply choose your business equipment and Axe Business Funding will design payments to help you make a profitable decision.
Frequently Asked Questions
Section 179 Tax Incentives
Why was Section 179 created?
What is Bonus Depreciation?
How do I take advantage of the Section 179 Deduction?
What is the 2020 Annual Deduction Limit?
What types of purchases qualify for Section 179?
Purchases of business equipment, heavy equipment, office furniture, computers, software and technology as well as many other business assets qualify for Section 179
Here’s How To Get Started
We are here to help you come up with the best finance solution to meet your businesses needs. The process is simple and we will walk you through it step by step.
Speak with one of our Finance Specialists to learn about the needs of your business.
Choose a Solution
Your Finance Specialist will work with you to discuss your finance options and make sure your objectives are met. Once an option is chosen we will secure an approval.
Your assigned Specialist will go over the terms, payments and down needed to fund your transaction. Documents will then be emailed to you for your review and signatures.
Fund your Transaction
Most transactions fund within 24 hours of signed documents being returned. Once the transaction is funded a wire will be sent out to the seller of the equipment. You are then free to pick it up and put it to work.