What Are The Details Of Section 179 Federal Income Tax Deduction?


The 179 Federal Income Tax Deduction has the potential to save you thousands while creating opportunities for expansion and savings. File for this deduction and benefit from your robot purchase. 

Getting ready to file your 2017 Taxes?  

Don't forget that In 2017, there was a $500,000 Tax Write-Off from your taxable income of new or used equipment purchased. This means you can write off up to $500,000 in equipment or software purchased OR leased in 2017. (equipment and software must have been financed and in place by midnight December 31, 2017). 

For 2017, there is a $2,000,000 maximum amount that can be spent on equipment before the Section 179 Deduction begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true "small business tax incentive".

Businesses of all sizes will be able to depreciate 50 percent of the cost of equipment acquired and put in service during 2015, 2016 and 2017. 

New Tax Benefits for 2018

Section 179 Deduction has been increased to a Tax Write-Off of $1,000,000.  You can write up to $1M in equipment or software purchased on new or used equipment, as long as it is set in place by midnight December 31, 2018.  

For 2018, the spending cap on equipment must be under $2,500,000 before the Section 179 Deduction begins to be reduced on a dollar for dollar basis. 

Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also now includes used equipment.

Contact a RobotWorx sales associate at 740-251-4312 for more information on how to apply the Section 179 Deduction to your robotic equipment purchases.  You can also visit http://www.section179.org/ for additional information. 

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