Section 179 Calculator
Are you considering whether or not to purchase or lease equipment in the current tax year? This Section 179 Deduction Calculator for 2021 may very well help in your decision, as Section 179 will save your company a lot of money (the deduction is at a robust $1,050,000, and will stay there for the entirety of 2021.)
How much money can Section 179 save you in 2021?
The Section 179 Deduction has a real impact on your equipment costs. Here’s an easy to use calculator that will help you estimate your tax savings. Simply enter in the purchase price of your equipment and/or software, and let the calculator take care of the rest.
Please note that this Section 179 Calculator fully reflects the current Section 179 limits and any and all amendments / bonus depreciation.
2021 Section 179
Tax Deduction CalculatorTM
The calculator presents a potential tax scenario based on typical assumptions that may not apply to your business. This page and calculator are not tax advice. The indicated tax treatment applies only to transactions deemed to reflect a purchase of the equipment or a capitalized lease purchase transaction. Please consult your tax advisor to determine the tax ramifications of acquiring equipment or software for your business.
Example Calculation Using the Section 179 Calculator
Using a $75,000 equipment cost for a sample calculation shows how taking advantage of the Section 179 Deduction can significantly lower the true cost of the equipment purchased, financed or leased. In our example, $75,000 in equipment purchased has a true cost of $48,750. That’s $26,250 saved. Would you like an extra “25 grand-plus” this year on equipment you needed anyway?
In order to qualify for the Section 179 Deduction, the equipment must be purchased, financed or leased equipment and put into service by December 31 of this year!