COMMERCIAL OVEN TAX DEDUCTION ALERT

NEW TAX LAW ALLOWS 100 % DEDUCTION OF NEW EQUIPMENT

ALERT!! NEW TAX LAWS
YES, YOU CAN NOW DEDUCT 100% OF NEW EQUIPMENT IN THE VERY FIRST YEAR OF PURCHASE!! THAT MEANS YOU MAY PURCHASE A NEW OVEN OR OTHER RESTAURANT EQIPMENT OR START UP A NEW BUSINESS AND DEDUCT THESE COSTS NOW WITHOUT WAITING YEARS.

The deduction works like this: If a company has a $90,000 profit and decides to spend $50,000 of it on new computers, the company would normally write off the cost of the equipment gradually, deducting a portion of it each year over the span of the computers’ useful life. But Section 179 allows the business to deduct the entire $50,000 cost at once in the year the equipment is purchased, reducing the company’s taxable profit to $40,000. (The deduction cannot exceed a business’s total net income.)