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Business, Personal, and Property Funding!
Helping you succeed through business or personal funding, lines of credit, loans and other business related categories.
Special Funding Announcement!!!!
Funding sources from $5-$500 Million!!
Do you have a large project or commercial property that needs a cash infusion? We have ways of getting you this much needed cash. To learn more, click on the FREE CONSULTATION FORM below, fill it out, and SUBMIT!
Are You Looking for a Side Gig???
Referral Partners Wanted NOW!
Are you satisfied with your current income? Looking for "side" money? It's commission only, but I can show you in as little as 10 minutes how to supplement your income, and maybe even exceed it. Go to the REFERRAL PARTNER FORM , and fill out the basic info on the form. Doesn't cost anything! Let's talk soon!
Advantages of IRS Code Section 179!
5 Reasons to Take Advantage of Section 179 Before the End of The Year!
Section 179 is often times thought of as some complicated IRS tax code, and in reality, it isn’t. Below are 5 commonly asked questions and answers that may assist you in understanding this IRS Tax Code. It is very helpful and extremely beneficial to businesses more than ever.
1) What qualifies for the Section 179 deduction?
Section 179 of the IRS Tax Code lets a business deduct the full purchase price of qualifying equipment within the year it's purchased instead of writing off small amounts over many years.
2) Is it better to take bonus depreciation or Section 179?
One key difference between the two is that Section 179 allows a business to expense a cost of qualified property immediately, while depreciation allows a business to recover that cost over time. ... Businesses that go over the spending limit for Section 179 can still benefit from taking bonus depreciation.
3) Can you take Section 179 on vehicles?
You can get a tax benefit from buying a new or "new to you" car or truck for your business by taking a Section 179 deduction. This special deduction allows you to deduct a big part of the entire cost of the vehicle in the first year you use it if you are using it primarily for business purposes.
4) What vehicles qualify for the full Section 179 deduction?
Heavy SUVs, pickups and vans are treated for tax purposes as transportation equipment. So, they qualify for 100% first-year bonus depreciation and Sec. 179 expensing if used more than 50% for business. This can provide a huge tax break for buying new and used heavy vehicles.
5) What is not eligible for Section 179?
Property eligible for the Section 179 Deduction is usually tangible personal property (usually equipment or office furniture) purchased for use in your business. Certain depreciable property is NOT eligible for the Section 179 Expense Deduction. This includes: Real property (Land and the building on the land)
To get the complete description of Section 179, go to: https://www.section179.org/
If you would like to take advantage of this amazing expense reduction tool, contact us at The Nagol Agency to get you approved quickly for equipment financing. www.thenagolagencyinc.com
