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Equipment financing can help you take advantage of big tax savings. The Section 179 deduction allows businesses to deduct the full purchase price of the equipment in the year it is put into use. The deduction can decrease your tax bill and many times the tax savings will cover your first year’s monthly payments. Be sure to consult your tax advisor for guidance or visit www.irs.gov for specific details on the Section 179 deduction.

The Internal Revenue Service’s Section 179 Deduction lets businesses deduct up to $1 million of qualifying equipment purchases in the year the equipment is put into use. The deduction can result in significant tax savings even for small businesses. Equipment that is 100% financed is eligible for the deduction

How Section 179 benefits you*

Let’s say you are considering new equipment for your business at a cost of $25,000. You don’t want to tie up all of your cash or your lines of credit so you choose financing. You secure financing through Banleaco, take delivery of the equipment and put it into use by July 1st.

Assuming you are in the 21% tax bracket your purchase could save $5,250 in federal taxes. ($25,000 for the equipment x 21% federal tax)

Based on a 60 month term, your payments would be $2,892 through the end of the year.

The tax savings cover the payments and leave nearly $2,400 in your pocket! 

Some equipment that may qualify include:

Medical Equipment: Lasers, ultrasound, aesthetic equipment

Pharmacy Equipment: pharmacy automation, compounding equipment, medication carts, dispensing equipment

Chiropractic Equipment: adjusting tables, traction, thermostim, electrotherapy units, lasers, ultrasound

Physical Therapy Equipment: ultrasound, electrotherapy, treatment tables, software, rehab pools, patient lifts, exercise equipment

Dental Equipment

Veterinary Equipment

X-ray Equipment

Store Fixtures and Software

LED Lighting