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Details for Calculate Tax Savings on Leased Equipment
| Property | Value |
| Name: | Calculate Tax Savings on Leased Equipment |
| Description: |
2011 is a banner year for Section 179. That’s because legislation passed during the latter half of 2010 expanded and enhanced Section 179 and Bonus Depreciation to new, unseen limits.
The total deduction was doubled, to $500,000, and the total limit of equipment purchased was raised to 2,000,000. These are HUGE increases, and essentially is the government’s “go-ahead” to businesses in regards to purchasing new equipment and software. And it’s welcome news, because after several years of holding back, many businesses need new equipment.
This means if you were waiting to purchase new equipment and/or software, 2011 is the year you’ve been waiting for. In plain terms, the tax savings can be substantial.
And to help you see how much you can save, we’ve provided the following 2011 Section 179 Calculator. This calculator is fully updated with the current limits, and can give you a clear picture of just how much Section 179 can save you this year. Go ahead – check it out and see if you like the numbers.
The benefit of a Non-Tax/Capital Lease is that it can take advantage of Section 179: expense up to $500,000 if the equipment is put in use in 2011. In addition, you may depreciate any excess on the depreciation schedule for that asset. Examples of Non-Tax/Capital Leases include a $1.00 Buyout Lease, an Equipment Finance Agreement (EFA), and a 10% Purchase Upon Termination (PUT) Lease. Example: Assume you finance business equipment, put it in use in 2011, and take advantage of Section 179. Your tax savings could be significant. |
| Filename: | 2011_LSN_Section_179.xls |
| Filesize: |
1.16 MB |
| Filetype: | xls (Mime Type: application/vnd.ms-excel) |
| Creator: | admin |
| Created On: |
03/18/2011 00:00 |
| Viewers: | Everybody |
| Maintained by: | Editor |
| Hits: | 2252 Hits |
| Last updated on: |
03/18/2011 14:40 |
| Homepage: | |
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