Tax season is upon us
179 Tax Deduction Limits for 2020:
The Section 179 Deduction for 2020 is $1,040,000. This means your company can deduct the full cost of qualifying equipment, up to $1,040,000, from your 2020 taxes. This deduction is good until you reach $2,590,000 in purchases for the year 2020. Speak with your accountant for full details and an explanation of benefits to your company.
Japan Machine Tools can help you take advantage of this tax deduction.