For businesses that rely on robust material handling equipment, the cost of updating and expanding your fleet is a major consideration. Leavitt Cranes is excited to share the financial boost that Section 179 tax deductions can offer for the 2023 fiscal year.
This year, businesses can take advantage of a groundbreaking opportunity to deduct up to $1.16 million in capital expenditures. This is an increase from the 2022 limit and the highest deduction available to date. It's time to modernize your operations with our range of equipment, from tower cranes and self-erecting to glazing equipment and mini cranes
The IRS has updated Section 179, making it easier for businesses to reduce their tax burden for the current year by investing in new or pre-owned equipment. To qualify, your purchase or lease must be in service by December 31st, 2023, and predominantly used for business purposes.
These beneficial changes stem from “The Tax Cuts and Jobs Act” of 2017, aiming to lessen the financial load of growing your operation. The Section 179 incentive is a significant boon, offering notable savings on your next investment in material handling equipment. At Leavitt Cranes, we're committed to helping you navigate this tax advantage to ensure you're getting the maximum benefit for your business.
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