The New Section 179 Outlook: Best Ever?
Back in December 2015, the Section 179 deduction was raised to up to $500,000 on qualifying purchases under $2,000,000. The deduction rate (up from a drastic forecast the previous year of a mere $25,000) was retroactive for equipment purchased and installed in 2015 and will continue for purchases made throughout 2016. The 50% bonus depreciation, available in previous years, was also reinstated and kicks in once expenditures hit the 500k mark.
All of this is great news for anyone who has purchased or will purchase in the last bit of 2016, but what about 2017? For those who have followed Section 179, the deduction has changed quite a bit over the years and seems to be perennially on the table for more change. Well, now there’s more to the story that could make right now through December 31, 2017 the most advantageous Section 179 scenario yet.