With the end of the year approaching, Bonus Depreciation for 2019 is once again an available option for many of our clients, and that means this is a great time to buy!
Marathon clients purchasing their coach for business purposes may qualify for a government tax discount. This 100% Bonus Depreciation provision of the law allows purchases of new coaches in 2019 to qualify. For those looking forward to a profitable 2019, this could be a great way to receive substantial tax savings.
In addition, the Section 179 Enhanced Expensing is also available for those clients purchasing a new or pre-owned coach for business use. The purchase of qualified equipment in 2019 can be expensed up to $1,000,000 for a new or preowned coach in the year of the purchase. In this version, the purchase price threshold for reducing this expensing benefit has also been increased to $2,500,000. In addition, the Enhanced Expensing can be used in combination with the Bonus Depreciation. Here’s an illustration of the extensive savings you can enjoy:
As with anything tax-related, you should consult your accountant or tax professional to make sure this fits your unique circumstances. Some additional information can be found at www.section179.org.
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