2017 Year End Tax Savings | Take Advantage Today

It’s almost the end of the year, and you may still qualify for substantial tax savings in 2017. The Protecting Americans from Tax Hikes Act (PATH Act) provides significant tax advantages on new and used equipment. Whether you need to upgrade your fleet with a Backhoe Loader, Skid Steer Loader or Excavator, learn more about tax incentives you may qualify for:

Section 179 expensing levels are set at $500,000 for 2017. Taxpayers can expense up to $500,000 in purchases for 2017, as long as total purchases don't exceed $2 million and certain taxable income limitations are met. Once businesses exceed $2 million in purchases, a dollar-for-dollar phase out takes effect and the deduction is eliminated completely at $2.5 million. New and used equipment is eligible for expensing. Until further notice, Section 179 is permanent at the $500,000 level.

Bonus Depreciation is in effect for new equipment purchases this year, allowing 50% bonus depreciation in addition to normal depreciation. Equipment must be purchased and placed in service during 2015, 2016, or 2017 to qualify. This provision has been extended to 2019. Bonus depreciation will phase down to 40 percent in 2018 and 30 percent in 2019.

Purchase a new or used Cat® machine in 2017 to benefit from these significant tax advantages.* Contact your Hawthorne Cat Sales Representative at 800.437.4228 for more information.

* Hawthorne Cat does not provide tax, accounting, or legal advice. Always check with your accountant or tax attorney to verify your eligibility for any tax deductions.

Visit the following links for more information on Tax Savings: