Most small businesses haven’t heard of IRS Section 179,
but it’s their chance to save thousands, tens of thousands,
or even hundreds of thousands of dollars in depreciation.
Unfortunately, it expires at the end of 2013, and there is no
way to overstate how drastic the changes to depreciation
rules will be.
But we’ll try. At the bottom are just a few examples of how much
you have to lose by delaying your purchase of equipment to 2014.
The allowable first year depreciation amount drops from
$500,000 to just $25,000. The amount of bonus
depreciation will also drastically change depreciation on
deals over $500,000.