Should Your Business Purchase Equipment Before the end of 2013?

The depreciation rules are changing after 2013 so it may be beneficial for your business to make any necessary purchases before the end of 2013. The 50% bonus depreciation is gone after 2013 and the section 179 write off goes from the first $500,000 in purchases down to only the first $25,000. This means that your first year depreciation deduction will be much less in 2014 than in 2013 so you may want to purchase the equipment before 1/1/14.

Please consult your personal tax advisor as to whether or not it will be beneficial to your specific situation to purchase equipment before the end of 2013. Please “Like” us on Facebook for your chance to win gift certificates to great local restaurants, www.facebook.com/veseyandcompany.