\\n \\n\\nWhat is Section 179?<\/strong>\\nEssentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment during the tax year. That means that if you buy a piece of qualifying Kentucky Gauge equipment, you can deduct the FULL PURCHASE PRICE<\/span> from your gross income.\\n\\nIn years past, when your business purchased qualifying equipment, it typically wrote it off a little at a time through depreciation. For example, if your company spends $50,000 on a machine, it gets to write off $10,000 a year for five years. Now, while it\u2019s true that this is better than no write-off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it. And that\u2019s exactly what Section 179 does \u2013 it allows your business to write off the entire purchase price of qualifying equipment for the current tax year.\\n\\nUse Section 179 to purchase much-needed equipment right now! Why wait?!\\n\\n “},{“component”:”hc_space”,”id”:”GPK3K”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”size”:””,”height”:””},{“component”:”hc_pt_navigation”,”id”:”VTsFE”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”post_type_slug”:”post”,”archive_link”:””,”previous_text”:”Previous Article”,”next_text”:”Next Article”}]}],”section_settings”:””},”scripts”:{},”css”:{},”css_page”:””,”template_setting”:{“settings”:{“id”:”settings”}},”template_setting_top”:{},”page_setting”:{“settings”:[“lock-mode-off”]},”post_type_setting”:{“settings”:{“image”:”http:\/\/www.hymark.net\/news\/wp-content\/uploads\/2018\/11\/section-179.png|200|326|317″,”excerpt”:”Use Section 179 to deduct the full purchase price of your Kentucky Gauge equipment for 2018.”,”extra_1″:””,”extra_2″:””,”icon”:{“icon”:””,”icon_style”:””,”icon_image”:””}}}}<\/p>\n","protected":false},"excerpt":{"rendered":" {“main-title”:{“component”:”hc_title”,”id”:”main-title”,”subtitle”:””,”title_content”:{“component”:”hc_title_base”,”id”:”title-base”,”image”:””,”breadcrumbs”:false,”white”:true},”title”:”Time is running out to take advantage of Section 179 tax savings!”},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”box_middle”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Xhugf”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:” ALERT: Section 179 Increased to $1,000,000 for 2018! \\n \\n\\nWhat is Section 179?\\nEssentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment during the tax year. That means that if you buy a piece of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/posts\/315"}],"collection":[{"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/comments?post=315"}],"version-history":[{"count":12,"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/posts\/315\/revisions"}],"predecessor-version":[{"id":330,"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/posts\/315\/revisions\/330"}],"wp:attachment":[{"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/media?parent=315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/categories?post=315"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.hymark.net\/news\/wp-json\/wp\/v2\/tags?post=315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\\\"\\\"](\\\"http:\/\/www.hymark.net\/news\/wp-content\/uploads\/2018\/11\/section-179-calculator-286x300.png\\\")
Let’s look at an example\\n<\/strong>Let’s say you purchase a piece of equipment for $20,000. If you’re in the 35% tax bracket, the true equipment cost is only $13,000 after the Section 179 tax deduction. That’s a savings of $7,000!\\n\\nThat’s an extra $7,000 in your pocket just for purchasing equipment that you need in order to stay competitive and meet production goals.\\n\\nTry it our for yourself. Do you already have a quote from one of our sales representatives? Check out the Section 179 calculator<\/a><\/span><\/strong> to see how much you can save.\\n\\nIn 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.\\n\\nManufacturing is getting more and more competitive. In order to stay profitable, you need to figure out how to cut costs, reduce rework, eliminate scrap, improve your quality control, and increase throughput. Kentucky Gauge is the answer. Check out our brand new Kentucky Gauge website<\/span><\/strong><\/a> to view our full product offering and find out how we can help you stay ahead of your competitors.\\n<\/p>\nKentucky Gauge is your competitive advantage!<\/strong><\/h3>\n