Get Tax Savings for Your Business Equipment: Section 179 Explained!

What Is Section 179?

Section 179 of the IRS Tax Code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year.

This deduction is intended to incentivize investment in one’s own business, making the purchase of necessary equipment more affordable. For 2024, the maximum deduction limit has been raised to $1.2 million, marking one of the most generous thresholds in recent years.

The Section 179 Process?

Simple Step-by-Step:

1. Purchase or Finance Qualifying Equipment: Make sure your purchases are completed before December 31, 2024.
2. Use the Equipment for Business: The items must be used at least 50% of the time for business purposes.
3. File Form 4562: Include 4562 form with your tax return to claim the deduction.
4. Consult a Tax Professional: Partner with a tax advisor or accountant to ensure compliance and optimize your savings.

By taking action now, you can leverage this law to:

• Invest in High-Quality Equipment: Upgrade your gear with New Pro Video’s selection of new and quality pre-owned equipment from leading trusted brands like Canon, Sony, ARRI, RED, and more.
• Maximize Your Tax Savings: Deduct the cost of your equipment purchase directly from your taxable income, saving your business thousands of dollars.
• Improve Your Production Efficiency: Modernize your gear for better performance, reliability, and results.

Are You Ready to Maximize Your Tax Savings?

Don’t miss the opportunity to save big this tax season! Purchase new or pre-owned production equipment before December 31, 2024, and take full advantage of Section 179 benefits.

Check out New Pro Videos Inventory at www.newprovideo.com