Do you use tools for work? Are you a small business owner or independent contractor?  Don’t forget to take advantage of the lucrative Section 179 tax deduction in the U.S. tax code!

What is the Section 179 Tax Deduction?

Section 179 lets you deduct the FULL purchase price of any equipment and tools you’ve bought from your business’s gross income—up to a maximum of $1 million for 2019.  This includes any equipment you’ve leased or financed, which is incredible because the deduction could end up even larger than the payments you’ve made this year.

Before this code was introduced, businesses would write off equipment purchases a little bit at a time through depreciation (if you spent fifty-thousand on a machine, you might write off something like ten-thousand a year for five years).  Now you can write it ALL off in the same year, rather than waiting.  

The U.S. government created this incentive to encourage small businesses to buy equipment and invest in themselves. The goal is to stimulate the economy and help your business grow.  Millions of small businesses are already taking advantage of this and seeing real benefits. Don’t miss your chance to file a Section 179 tax deduction and earn massive savings.

How Can I Take Advantage?

The first step is to invest in yourself.  Purchase the cutting edge tools and equipment you need to upgrade your capabilities and grow even more next year.  The more you buy, the more you save.

If you’re looking for ideas, here are a few recommendations that can take a workshop to the next level:

Jet JWDS-2244 Drum Sander with Stand 1-3/4 HP: Introducing the newly designed JWDS-2244 Drum Sander from JET. The 1.75 horsepower motor delivers plenty of power to handle just about any sanding task. The JET JWDS-2244 Drum Sander delivers everything you need for an effortless finish. Festool  STM 1800 Mobile Saw Table: With the ability to securely support large-sized sheet material, even boards up to 3100 x 2150 mm in size can be used by a single person without difficulty. Ideal for cutting sheet goods and/or using as an assembly bench on construction sites, production shop, or the home workshop: designed to be operated by one person, saving both time and money during your fabrication and assembly process.
The SawStop Industrial Cabinet Saw: This SawStop is the last word in table saw safety and industrial power.  The robust 7.5 HP motor will handle the toughest jobs and heaviest workloads day-in and day-out.  There’s no stronger, smoother, or more precise saw on the market.
Festool Conturo KA 65 Edge Bander: Festool changed the game for edge banding with this hybrid tool that combines the power of a stationary workstation with the mobility of a hand tool.  Bring “The Perfect Edge” to straight lines, curves, corners (outside or inside), beveled edges, freeform shapes, and any other complex edging project you encounter.
Kreg 4' x 8' Framing Table: There’s no more precise, durable, and compact table for face-framing assembly than this one by Kreg. The 30-degree angle saves on floor space (and back pain) while the retractable squaring fence and adjustable clamping cylinders hold your workpiece firmly and precisely in place.
Sjobergs Elite 2000 Professional Workbench (with cabinet and accessory kit!): You can’t beat the elite quality (or beauty) of oil-treated European beech. Sjoberg makes seriously heavy-duty workstations that professionals can be proud of.
Stabila LA180L Multi-Line Laser: This self-leveling, motor-driven masterpiece creates crystal clear laser lines for alignment, plumb bobbing, transferring heights, and more.  Measuring and transferring markings doesn’t have to be a time suck (or put you at risk of costly follow-ups) ever again. This Stabila makes it effortless to align axis and set out right-angle spaces simultaneously.

Where Can I Learn More?

Section179.org has a ton of useful information to help you figure out how to qualify, where to file (you’ve got to fill out Part One of IRS form 4562), and what tools and equipment you can claim. 

We also love this easy-to-use Section 179 Deduction Calculator, which gives you a quick snapshot of how much you can expect to save in your tax deduction for tools purchased.

Don’t wait!  The tax year is almost over.  Get the tools you need to expand your business and save BIG.