Section 179 Allows a Business to Expense their Equipment Purchase

As of 2024, the Section 179 deduction limit is $1,160,000. This means that businesses can deduct the full cost of qualifying equipment and software purchased or financed during the tax year.

Section 179 Free Booklet

Successful companies use the right equipment. Automating your processes and reducing labor costs can increase profitability. Financing helps companies secure the funds needed to replace older equipment.

Example:

• Capital Equipment Cost: $100,000
• Monthly Estimated Payment over 60 Months: $2,100
• Under $350,000 No Financials Needed

(Please note – Programs are upon SCL credit approval and terms can change)

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FED keeps Rates Stable
News From SCL Equipment Finance

TAX BENEFITS EQUIPMENT PURCHASES 2024

Section 179 is a tax code that allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. By taking advantage of Section 179, businesses can significantly reduce your taxable income and save money on their equipment purchases. This tax incentive is designed to encourage businesses to invest in their growth and development by making it more affordable to acquire the assets they need. For businesses looking to upgrade or expand their equipment in 2024, understanding and utilizing Section 179 can lead to substantial savings and financial benefits. Make sure to consult with your tax advisor to see how you can leverage this tax provision for your equipment purchases in 2024.

Support Small Businesses

99% of the US businesses have less than 500 people. With recent disruption and retreat of bank credit lines, vendors and business owners are evaluating who they do business with.

SCL has the power to fund.