Do you still have questions about the tax advantages (or other advantages) of financing commercial equipment? Team Financial Group can help. Contact us by phone at 616-735-2393 or fill out our online contact form. Or, if you`re ready to apply for fast and flexible financing today, fill out our simple online application and do the rest. To participate in the program, participants must first apply for funding during the programming period by registering with www.CrestCapital.com and completing a credit application. Participants are limited to one account in question and must enter “2020 Section 179 Bonus Program” in the comments section of the credit application. For example, equipment purchases of $1,200,000 in 2019 would be eligible for depreciation of $1,000,000 in the first year, as this was the maximum amount authorized in 2018. The Tax Cuts and Jobs Act then allows a premium of US$200,000 to be applied in the first year. The total deduction for the first year would then be $US 1,200,000. Cash savings amount to $420,000 ($1,200,000 x 35%) and the cost of after-tax equipment is $780,000.
However, what many traders don`t know is that you don`t need to buy an asset directly to depreciate it. Instead, you can use commercial equipment financing to acquire the equipment while enjoying all the benefits of depreciation. Not only that, but also several other tax benefits apply to devices purchased with a loan, lease or financing contract. Keep reading to learn more. We want to make your credit process as simple as possible and save you money, which is why here are some of the most important questions we receive about financing Section 179 equipment with answers from our experts. Crest Capital`s mission is to provide companies with simple and flexible financing and leasing for equipment, vehicles and software. And in combination with Section 179, we`re providing a total bonus of US$179 for every $10,000 your company finances with Crest Capital.* Businesses that want to take advantage of the benefits of Section 179 capital cost allowances bonuses on device purchases should speak to their tax advisors. These Terms and Conditions apply to access to the 2020 Section 179 Bonus Program, operated by Crest Capital or its subsidiaries and associated companies (together “Crest Capital” in the United States of America (hereinafter “The 2020 Section 179 Bonus Program” and/or “The Program”). These Terms and Conditions do not modify the terms of other agreements you have with Crest Capital for financial agreements, products, services or otherwise. Crest Capital reserves the right to modify or modify at any time and at its discretion these Terms and Conditions or Policies, FAQ or Policies relating to the 2020 Section 179 Bonus Program. Any modification or modification takes effect immediately and you waive any right you may have to receive specific notification of such modifications or modifications.
Your participation in the 2020 Bonus Program, Section 179, confirms your agreement to such modifications or modifications; Therefore, you should regularly read these Terms and Conditions and the current Policies in order to understand the conditions applicable to the 2020 Section 179 bonus program. If you do not agree to the amended terms, you may not participate in the 2020 Section 179 Bonus Program. If you don`t agree on whether your company can afford a new device, the IRS could be your savior (have you ever imagined you thought so?) . . . .