A quick guide to Section 179. What is it?
No one likes to pay more than their fare share of taxes. We don’t like filling out the paperwork or filing them, and we really don’t like that we don’t see any immediate returns. What if there was a way to increase your profits while legally getting out of paying a large portion of taxes for your business?
Would you be interested? Of course you would.
Long story short, this section of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased during the 2016 tax year.
Check out your tax write-off for 2016
In order for this code to provide you with significant tax relief for this 2016 year, but equipment and software MUST be purchased and in place by midnight on December 31,2016. Use this 2016 Section 179 Calculator to see how much the deduction can save you.
Does it work with financing?
Yes! This deduction can be used with financing or leasing options. You get the equipment and are able to start making money off of it, and use this years deduction. A win-win.
Tax deductions help your bottom line
The above is an overall, simple view of the Section 179 Deduction for 2016. For more details on limits and qualifying equipment, please consult a tax professional.
More information can be found at section179.org.
Tags: business, hoses, hydraulics, leasing, purchase, section 179, taxes, Tubes n' Hoses
"I found a way to offer a very unique service with virtually no competition with Tubes n' Hoses. The bender and end forming capabilities are unmatched at this price point. Only industrial high production manufacturing equipment can top it. The hydraulic shops in the area refer their customers to me for the impossible. We have expanded from just doing a/c hose to so much more, and it's fun. I would highly recommend the Tubes n' Hoses system. Especially if in a rural location or area that has heavy concentrations of agricultural/mining activity. We have a huge competition in the hydraulics here so we concentrate on automotive, and the hydraulic shops hate to deal with automotive, so they refer customers here daily. Auto parts stores even bring us hoses to have made for their customers. For my business, they system has changed our situation. We've been able to scale the system to provide us with a solid income that allows us to provide a very unique service to our existing customers and open avenues to new ones." -Bob Steinmann, Century Auto Air
"Like many folks, I am resistant to change. I looked at the Tubes n' Hoses system for 5 years before I made the commitment to myself and the shop that this could be good. With the addition of the system to our shop, we have been able to diversify our client base. We are now doing many jobs, which before we had to turn away. With the constant expansion of our city and counties, we have had an influx of heavy equipment. Nearly all heavy equipment relies on hydraulic systems. My customers know that when I use my Tubes n' Hoses equipment, they are getting a superior product hand made to the exact specifications they request. Customers and shops around the country are noticing what we do. Our out of state customers have never been displeased with the turnaround time, thanks to the Tubes n' Hoses system. Owning this system can be a life changing decision and I highly recommend making the upgrade to your own shop to serve your customers in ways you could not before. After years of looking at just about every system on the market I have not found any to compare with this one. Minute for minute this can and will improve your productivity and bottom line. I wholeheartedly recommend Tubes n' Hoses!"
"When first looking at the Tubes n' Hoses system there were a couple of obstacles; one being lack of knowledge on knowing how to utilize everything the machine offers, and the second being the cost of the machine itself. When we made the decision to purchase, we found out how much the machine offers, how much it helped our customer's needs, and it felt good to be self sufficient! We like all the features of the machine, but the tube bending station really helps out, especially when you are bending the bigger sized tubing. Again, it goes back to satisfying our customers needs. As I mentioned before there are many things the machine offers. It is capable of upsizing/downsizing, beading, and flaring multiple sized tubing. Crimping standard and reduced barrier A/C hose. The list goes on! I would recommend this system. The machine is capable of doing so many things. Basically, it comes down to being self-sufficient and satisfying our customer needs, which is our NUMBER ONE PRIORITY!"