Buy equipment now, take advantage of the Section 179 small business tax incentive and invest in your business for the future.
Section 179 of the IRS tax code allows small businesses such as contractors to deduct the full purchase price of qualifying equipment from your gross income in the same tax year it is purchased. This deduction is good on new and used equipment. In 2018, the deduction limit is one million dollars.
To take the deduction for tax year 2018, the equipment must be financed or purchased and put into service between January 1, 2018 and the end of the day on December 31, 2018. For this tax year, the spending cap on equipment purchases is $2,500,000.
What Could This Mean for Your Contracting Business?
Since the Section 179 tax deduction allows your business to write off the entire purchase price of qualifying equipment for the current tax year, you can purchase needed equipment right now, rather than waiting. You can expand your services in 2019 to offer coatings, decorative concrete and polished concrete by investing in the right equipment to do the job.
We’re an authorized dealer for a number of popular equipment brands in our industry:
- CS Unitec
- Ermator / Pullman Holt
- Gorilla Concrete Tools
- U.S. Saws
Whether you’re looking to expand your business with grinders, burnishers, generators, hand grinders, sand blasters, scarifiers, shot blasters, scrapers and more, make that equipment purchase or lease before December 31, 2018 to take advantage of the Section 179 small business advantage.
Be sure to talk to your tax advisor to learn more.
Runyon Surface Prep Rental & Supply is a full-service sales and rental facility uniquely dedicated to the concrete polishing industry. Our uniqueness comes from providing our customers with a diverse equipment, product and supply portfolio. We offer training and support, such as technique workshops on prep, polishing or removal, and maintain a well-stocked inventory of consumables ready for your projects at a moment’s notice. Rather than perform contract work ourselves, we consult on job sites when necessary. With the backing of our vendors, Runyon Surface Prep offers support at any level, to assist in helping you get things done. We can deliver or ship wherever you need, or you can pick up from our facility.