2021 Section 179 Deduction Limit for Businesses is $1,050,000
Section 179 of the IRS tax code is a fantastic incentive for businesses to purchase, finance, or lease equipment during this tax year by allowing businesses to deduct the FULL PURCHASE PRICE of equipment (up to certain limits). It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
Please note that to be eligible for a 2021 Section 179 deduction, the eligible equipment must be purchased and put into service by midnight 12/31/2021.
It is not enough to simply buy the equipment. Please keep supply chain issues and delivery times in mind when buying or using Section 179 Qualified Financing, as there are currently no plans to waive the “put into service” requirement.
Eligibility for the Section 179 tax deduction is unaffected by any pandemic-related financial assistance a business may have received (e.g., PPP Loans.) In other words, if a company received a PPP loan or any other Pandemic-related assistance, they may still claim their Section 179 Deduction.
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Trimble Financial Services helps surveyors, engineering firms, contractors, and construction companies obtain the equipment needed to do business and stay ahead of the competition.
Trimble Financial Services offers competitive rates, flexible terms, fast response, and great service! Terms and rates are subject to credit application and credit approval.
- Robotic & Mechanical Total Stations
GNSS Receivers, Antennas & Radios
- 3D Laser Scanners
- Controllers & Data Collectors
- Laser Levels & Auto Levels
- and other Survey Equipment