President Action Machinery Consulting
Kim has over 25 years of experience in the machine industry, where she has purchased, sold, liquidated and appraised a broad range of machine tools and allied equipment. As President of Action Machinery Consulting LLC and previously Vice President of Action Machinery, one of the leading machine tool dealers in the nation since 1965, Kim has managed every aspect of the business. Kim is a Certified Equipment Appraiser with relevant insight into market dynamics, sales trends and used equipment values. She has significant experience in strategic target marketing for plant and equipment sales, auctions, and liquidations and has participated in collateral repossession and equipment remarketing for numerous asset-based lenders.
For the 2016 tax year, the Section 179 Tax Deduction Limit has been raised back to $500,000, the increased level in effect in 2013 and is not reduced until the cost of section 179 property placed in service exceeds $2 Million.
Understanding The Section 179 Deduction. Click this link to see how Section 179 can benefit your business in 2016.
What you should know:
When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation – unless the business has no taxable profit in the given tax year.
Original Equipment Cost: $500,000
2016 Potential Tax Savings: $175,000
Final Equipment Cost: $325,000
Cash Savings on Equipment Purchase: $175,000