At Above All Equipment Sales, our goal is to help our customers get the aerial lifts they need for the prices they want. One way we do this is by selling reconditioned boom lifts, scissor lifts, and telehandlers, which can dramatically reduce the cost of your machine.
However, we are also always on the lookout for other ways we can help our customers save. The Section 1790 Tax Deduction is one way we have found that can help our customers possibly get a deduction in the next tax year.
We are by no means accountants, but we would suggest getting with your accountant and discussing how much you could save if you were to buy a new or reconditioned areal lift this year.
According to the Economic Stimulus Calculator, property placed in service after December 2018, the maximum amount a business can deduct for a section 179 is $1 million on the first $2.5 million of asset purchases and phased out on purchases in excess of $2.5 million.
You can also possibly receive a first-year 100% immediate deduction for qualified property.
If you have talked with your accounts team and are in the market for a new or reconditioned aerial lift for your business, contact us at Above All Equipment Sale today!