News Alert: The 2020 Section 179 Deduction Limit for Businesses is $1,040,000
Jan 16, 2020– The Section 179 deduction for 2020 is $1,040,000 dollars. This means U.S. companies can deduct the full price of qualified equipment purchases, up to $1,040,000, with a “total equipment purchase” limit of $2,590,000. The deduction includes both new and used qualified equipment.
In addition, businesses can take advantage of 100% bonus depreciation on both new and used equipment for the entirety of 2020.
Contact your accountant or tax professional so that you don’t have to wait to get the new or upgraded commercial vehicle for your business needs. Learn more…
Because tax laws change and vary, see your tax advisor on all tax matters to determine how you would be affected. Isuzu Finance of America is not a tax advisor or financial planning consultant and does not offer tax advice or financial planning.