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Bought New Equipment? Remember IRS Section 179 Savings - PPA Today

Bought New Equipment? Remember IRS Section 179 Savings

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Have you purchased new equipment in 2011 (or will you)? If so, don't forget to take advantage of IRS Section 179! It's the deduction that allows you to expense almost any type of new equipment (including software) that you use in your business, as long as it is placed in service by December 31, 2011. This means that the entire cost of the qualifying equipment will be deducted from your current 2011 taxable income.

There's still time for you to fulfill your holiday wish list of new equipment (and put it in use) to qualify for this deduction. Plus, if you're a PPA member, PPA Affinity Partner United Funding can help you get such equipment with very little out-of-pocket cash, thanks to their leases and loans. PPA members even get a 2% rebate of the cost of equipment with United Funding! (And since United Funding doesn't report to the credit bureaus, your credit scores or ratios will not be adversely affected.)

Here is an example* of the money that you can save by taking advantage of Section 179:

  • Equipment cost:  $10,000.00
  • Approximate Monthly payment (48 Months): $300.00
  • Tax Savings (assuming 25% marginal tax rate): $2,500.00
Learn more about this member benefit--getting started is as easy as completing the online credit application.

*Keep in mind that this example is only intended to explain the tax benefits under this provision. It is advised to consult with your tax professional to determine the accuracy of the calculations and whether or not your purchases would qualify.


About this Entry

This page contains a single entry by Professional Photographers of America (PPA) published on November 29, 2011 4:00 PM.

Double Smiles Month for PPA Charities was the previous entry in this blog.

Professional Photographers Guild of Houston Convention & Trade Show is the next entry in this blog.

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