The Tax Cuts and Jobs Act increased the bonus depreciation percentage from 50 percent to 100 percent for qualified property acquired and placed in service after September 27, 2017, and before January 1, 2023. That means, if you qualify for the 100%, First-Year 'Bonus' Depreciation and you purchase an attachment from Titan Attachments™, you can deduct the FULL PURCHASE PRICE from your gross income. To learn more and see if you qualify, please visit the IRS website here:
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment that is purchased or financed during the tax year. That means, if you qualify for the IRS Tax Code Section 179 and you purchase an attachment from Titan Attachments™, you can deduct the FULL PURCHASE PRICE from your gross income. To learn more and see if Section 179 applies to you, please visit the IRS website here:
Below you will find examples of savings some of our customers have experienced after claiming their purchases.
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**Income tax savings are not guaranteed. Examples shown represent potential tax scenarios and assume a tax bracket of 35%. Statements made by Titan Attachments should not be taken as legal advice. Titan Attachments is not an income tax adviser. You should reach out to your tax professional for any questions you may have about the income tax ramifications of your proposed purchase and to determine whether Bonus Depreciation or Section 179 applies to you and your business.