Southeast

2016 Tax Calculator

ENHANCED TAX INCENTIVES AVAILABLE
WHEN YOU PURCHASE EQUIPMENT IN 2016!


MFS will show you how investing in equipment NOW can  still pay off in BIG Tax Savings for Fiscal Year 2016.

Section 179 of the IRS tax code allows a deduction up to the full purchase price of qualifying equipment purchased or financed.  That means that if you buy (or lease) a piece of qualifying equipment, you may be able to deduct all of the PURCHASE PRICE from your gross income (up to $500,000) . This could represent a significant tax advantage, especially since tax rates have increased for this year.

For the 2016 tax year, Section 179 allows businesses that spend less than $2,000,000 a year on qualified equipment to write off up to $500,000 in 2016 (new or used).

Bonus Depreciation in 2016 is 50%. This can be taken on new equipment only.

 

$
PLEASE PLUG-IN THE ESTIMATED MACHINE PRICE HERE
The simple spreadsheet below will demonstrate your potential Tax Savings: 2016
Estimated Machine Price (EMP) $0
Section 179 Deduction
$0
Balance to Depreciate over 7 Years (EMP - Section 179 Deduction) $0
50% Bonus Depreciation $0
Standard Depreciation - 14.29% Yr. 1 x (EMP - Section 179 - Bonus Dep.) $0
Total First Year Tax Deduction (179 Ded. + Bonus & Stand. Depreciation) $0
Assumed Customer Tax Bracket
35.0%
TAX SAVINGS $0
Aprox. # of Payments Covered by these Tax Savings 0

Companies should consult their tax accountants to confirm eligibility for tax benefits.

If a company exceeds its depreciation limit for the year, MFS can also offer a number of financial products to minimize a company's tax liability beyond Section 179, and Standard Depreciation.

Circular 230 Disclaimer: Nothing included in this website is intended to be used, and cannot be used (i) for the purpose of avoiding penalties that may be imposed on a taxpayer under the Internal Revenue Code of 1986, as amended, or (ii) in promoting, marketing or recommending a partnership or other entity, investment plan or arrangement.

Manufacturers Financing Services would be happy to finance your equipment purchases
and answer any questions relating to this tax law. Please feel free to contact us with any questions.

Contact your MFS Expert: Darryl Schoen (562) 949-4771, ext. 2516

© Copyright 2016 | Some images courtesy of the Gildemeister group | Terms of Use | Privacy Policy | Site Map
2012 W3 Award