11/13/2018
Construction contractors will soon reap the benefits of hefty tax breaks set to kick in with the 2018 tax year. The updated tax provision, known as Section 179, allows contractors to deduct the full cost of new and used equipment (up to $1,000,000) in the first year they put the equipment into use including financed equipment. Bonus depreciation also increases to 100%. These new deduction limits to this tax law should have tremendous benefit for many companies, while boosting the economy.
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