Buy a Wiggins Lift This Year, Get a Big Deduction!A new federal tax law allows up to $500,000 in one year.
A change in the U.S. Tax Law now allows you to take the full deduction in one year of a new purchase. The Protecting Americans from Tax Hikes Act of 2015″ (PATH Act, 26 U.S.C. § 179) was signed into law last December and is in effect for the 2016 tax season.
This means that if you buy a Wiggins Lift this year, you can claim the full depreciation on this year’s taxes, instead of over the lift’s lifetime. This can result in a significant tax savings.
The law allows a full deduction for long-term, personal property purchase that you use in your business at least 50% of the time. The aggregate cost of all items deducted cannot exceed $500,000. There are other restrictions, as the law is intended to help small business (but there are provisions for larger business, too!) As always, check with your tax experts!
Get your order in now to make sure your lift is built and delivered in 2016 so you can take the deduction!
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