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©2022 Covetrus, Inc. All rights reserved. No copying without consent. Lit. No. 22SOL86-040522
Contact Covetrus for more information: call 801.688.6467 or email shon.bjerregaard@covetrus.com
The Section 179 deduction is good on new and
used equipment, as well as off-the-shelf software.
To take the deduction for tax year 2022, the
equipment must be financed or purchased and
put into service between January 1, 2022 and the
end of the day on December 31, 2022.
$2,500,000 is the maximum amount that can
be spent on equipment before the Section 179
Deduction begins to be reduced on a dollar for
dollar basis.
100% Bonus Depreciation is taken after the
Section 179 Spending Cap is reached. The
Bonus Depreciation is available for both new
and used equipment.
2022 Equipment
Purchases Total
$125,000
Section 179
Deduction
$125,000
Cash Savings on
Your Purchase
$30,000
New Cost of
Equipment After
Tax Savings
$95,000
Example
Calculation:
*Example assumes a 24% tax bracket
Please speak to a qualified tax professional if you
are seeking advice about your specific business
or tax circumstances. Covetrus
®
does not provide
professional accounting services.
Source: section179.org
Don't miss out
on potential tax
benefits in 2022!
Your practice could be eligible for the Section 179
tax deduction for purchases made on equipment
and software in 2022. Visit Section179.org or
contact your tax professional to learn more!
THIS AD IS FOR INFORMATIONAL
PURPOSES ONLY.
Please speak to a qualified tax professional
if you are seeking advice about your specific
business or tax circumstances. Covetrus
®
does
not provide professional accounting services.
Contact Covetrus
®
for more information: call 801.688.6467 or email shon.bjerregaard@covetrus.com
