What is Section 179?
How much can I spend, and what savings opportunities are there for my business?
| | Max Deduction | Spending Cap |
|---|---|---|
| 2021 | $1,050,000 | $2,620,000 |
| 2022 | $1,080,000 | $2,700,000 |
| 2023 | $1,160,000 | $2,890,000 |
What’s the difference between a max deduction and a spending cap?
How do I qualify for Section 179?
Is Section 179 just for heavy equipment?
- Tangible personal property and other tangible property
- Single-purpose agricultural structures
- Storage facilities for petroleum
- Off-the-shelf computer software
- Or qualified Section 179 "real property."
What about the bonus depreciation?
From 2023 to 2026, bonus depreciation will gradually decrease:
- 80% for property placed in service in 2023.
- 60% for property placed in service in 2024.
- 40% for property placed in service in 2025.
- 20% for property placed in service in 2026.
- 0% for property placed in service in 2027 and beyond.
How do I claim my Section 179 deduction?
We’re here to help!
- Walk the lot with your NT sales rep to see what we have in stock
- Work with your NT sales rep to find the right machines to add to your fleet
- Check with us about what financing and leasing options are available to you
- Trade in your old machines for new machines
- Other questions? We are here to serve!
