GX-4816

Section 179 allows you to deduct capital expenses in the current year instead of on a depreciation schedule. This incentive allows you to deduct up to $500,000 of qualified expenses. The PATH Act enacted in December 2015 made this $500,000 limit a permanent part of the tax code, to be adjusted for inflation each year. Section 179 applies to all tangible property additions, like equipment, machinery, office furniture, and off-the-shelf software.

Bonus depreciation was also extended through 2019. Businesses can take advantage of 50% bonus depreciation on new equipment with no spending cap. It is available for a 5 year period, but it phases down to 40% in 2018 and 30% in 2019.

Section 179 for 2016 expires midnight, December 31st 2016. If you wish to deduct the full price of your equipment from your 2016 taxes, it must be purchased and put into service by then. More information can be found at section179.org or use the Section 179 Tax Deduction Calculator to see your potential savings!

More info on claiming Section 179 can be found at irs.gov

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You’ve probably heard the phrase “Made in America” so many times that it has lost its meaning. With so much deceptive labeling in the market nowadays, consumers are understandably wary of these types of claims. According to the Federal Trade Commission, in order to advertise a product as made in the USA, it must be “all or virtually all” manufactured on domestic soil.

Most of the big-name waterjet OEMs declare their products American-made, but the appropriate phrase would be “Assembled in America” using the FTC’s guidelines. WARDJet can confidently proclaim that our waterjet systems are made in America.

Read more about how our waterjets are Made in America