Buy Now & Receive Bonus Depreciation Benefits

Kenworth W900L

Thinking about pushing your buying decisions into 2020? Consider the benefits of receiving this year’s bonus tax depreciation if you purchase a truck before year-end.

The Tax Cuts and Jobs Act, signed on December 22, 2017, greatly enhanced bonus depreciation opportunities available to businesses in the market to buy equipment. In 2019, taxpayers can elect a 100 percent bonus depreciation deduction under either IRC Section 179 or 168(k).

Bonus Depreciation
When your business typically purchases equipment items, it can write those items off a little at a time through the depreciation. There were two enhancements under 168(k) that were not previously available or within Section 179, which are:

  • There is no dollar limit on the amount of property you can purchase that can qualify for the bonus depreciation.
  • This deduction applies to both new and used equipment.

To learn more information about the laws, visit:

This summary was written to support the promotion or marketing of the matter addressed above, and is not tax advice provided by Murphy-Hoffman Company or MHC Kenworth. The taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.

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