Taking the Section 179 Deduction
From the moment we began our business, The Yard Ramp Guy has firmly championed the idea that a quality yard ramp’s simple—yet essential—function is compelling-enough reason to buy or rent.
And if the service of a yard ramp isn’t enough to convince you, we draw your attention to yet another way that our yard ramps can helping optimize your business operations.
Here we’re talking about financial optimization of your bottom line:
The Section 179 Tax Deduction allows U.S. businesses to deduct the full purchase price of qualifying equipment from your company’s gross income. Our reading of the tax code is that a yard ramp certainly falls into the category of “property attached to your building that is not a structural component of the building (i.e.: a printing press, large manufacturing tools and equipment).”
Here’s the rub: That yard ramp needs to be used for the business more than 50% of the time. And businesses must purchase equipment and put it into use before the end of the calendar year in order to claim the Section 179 deduction.
(At the bottom of our Yard Ramp Financing page, we’ve posted a countdown clock, ticking toward midnight on December 31, 2016.)
Even better news: through the PATH Act of 2015, Congress has raised this deduction from $25,000 in 2015 to a permanent, and impressive, $500,000 for 2016.
As we’ve stated before, we’re The Yard Ramp Guy®, not the Tax Advisor Guy. As such we strongly urge you to consult with your CFO or your accountant in order to confirm the Section 179 scenario and use it to your greatest advantage.
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Quotable
Okay, McCoy Fields . . . we read your blog this week, and we accept the challenge:
