Section 179 Tax Deduction for Spray Foam Equipment

CANTON, OH – December 14, 2010 – Paratus Supply offers up some tax advice and a special offer on spray foam rigs and PMC plural component spray machines.

According to research done by the Ohio based distributor of spray foam equipment, Paratus Supply, claims you need to know about IRS Section 179, especially if you are looking to buy new spray foam equipment in the near future.

“Section 179 of the IRS Tax Code allows a small business to deduct, for the current tax year, the full purchase price of financed or leased equipment that qualifies for the deduction. The equipment purchased or leased must be within the specified dollar limits of Section 179, and the equipment must be placed into service in the same tax year that the deduction is being taken (for tax year 2010, this means the equipment must be put into service between 01/01/2010 and 12/31/2010).”

So the saying, “There is no better time to buy than right now” is actually the truth when it comes to these last few weeks of 2010, claims John Sesic, Paratus’ Marketing Manager.  “The Section 179 deduction is only in place for the remainder of 2010.  The savings that are available with the Section 179 deduction are not far-fetched, complicated, or nearly impossible to get.  They are real, easy, and are applicable to leased equipment as well,” Sesic further comments.

“What am I going to save with this deduction?” many folks would ask. Sesic provides the following example as they would pertain some of the spray foam rigs and spray foam equipment:

Paratus Supply demonstrates above that the savings are there.  Section 179 tax savings are almost impossible to pass up if you have been on the fence about that new spray foam rig or spray foam equipment purchase.  Time is running out on Section 179 and the Special Offer Deals from Paratus Supply.

*** Important Update for December 2010 ***

Nov 15, 2010 - Effective as of 09/27/2010, H.R. 5297 (the Small Business Jobs and Credit Act of 2010) had a substantial (and welcome) impact on Section 179.  The biggest impact is that it increased Section 179's limits (almost doubling them). This will mean a substantial boost to your bottom line this year.  But to get the deduction for tax year 2010, you have to act now, as once the clock strikes midnight on 12/31/2010, Section 179 can't affect your 2010 profits anymore. 

Additionally, a "$179 bonus per $10,000 financed" is being offered thru 12/31/2010.  This means you can get your equipment, vehicles, and/or software now (and thus get to take advantage of Section 179 in 2010), and get bonus cash as well.

*The calculations above present a potential tax scenario based on typical assumptions that may not apply to your business. This page and calculator are not tax advice. The indicated tax treatment applies only to transactions deemed to reflect a purchase of the equipment or a capitalized lease purchase transaction. Please consult your tax advisor to determine the tax ramifications of acquiring equipment or software for your business. 

For more information about Paratus Supply, give them a call at 330.454.0500 or visit their website to get a quote on your foam rig or foam machine today so you can get in on this offer from the IRS that expires on December 31, 2010.

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Paratus Supply
1240 Dueber Ave SW
Canton, OH 44706
United States
Phone: 330-454-0500
Fax: 330-454-0501