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Take advantage of tax benefits

By October 26, 2020 No Comments

Are you considering purchasing material handling equipment in the current tax year?

Section 179 can save your company a lot of money!

Now is the time to make your move!

Known as the Section 179 deduction, purchase made before the end of this year qualify for an immediate tax deduction.  As opposed to taking smaller write offs on the equipment over several years.  The maximum deduction has been raised to $1,040,000 for the remainder of the year!

  

100% Bonus Deprecation for 2020!
2020 Deduction Limit is $1,040,000
2020 Spending Cap on Purchases is $2,590,000
*Maximum amount spent

SNS Industries

Example Purchase:

Solution Net Systems, Inc. Product Proposal $1,150,000
First Year Write Off: ($1,000,000)
100% Bonus First Year Depreciation ($150,000)
Normal First Year Depreciation $0
Total First Year Deduction 1,150,000
Cash Savings (35%) ($402,500)
 

Equipment Cost After Tax*

  

$747,500

 

*Tax brackets may differ from 10%-37%

  

Write-off the Entire Purchase Price of:

Complete Integrated Systems

Sorters

Scanners

Readers

Receivers

Scales

Software

Labelers

 

 

To take the deduction for tax year 2020, the equipment must be financed or purchased and put into service between January 1, 2020 and the end of the day on December 31, 2020.

Additional Information:

Tax Deduction Calculator

Section 179 website

For more information please contact an automation specialist at 1-877-619-6763 or contact us below!

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