Congress approved tax legislation extending the $500,000 Section 179 capital assets depreciation limit and enhanced bonus depreciation.
New Holland Agriculture and Construction applauds enactment of this legislation, which allows farmers and small businesses to immediately write off the full price of up to $500,000 in capital assets purchases (including farm and construction equipment) instead of depreciating it over time.
The Section 179 tax deduction is good on new and used equipment and is combined with bonus depreciation for even bigger tax savings on new equipment.To take advantage of this tax break in the 2015 tax year, equipment must be purchased, financed, or leased and put in service by midnight on Dec. 31, 2015.
With New Holland’s Year-End Celebration savings event, qualified buyers can take advantage of cash back plus low rate financing on current-year New Holland tractors and equipment. New Holland agricultural equipment is also eligible for a special, “No Interest, No Payments Until 2017” program that expires Dec. 31.
Details of the Year-End Celebration and financing offer are available online at www.newholland.com/na. A Section 179 calculator is available online at www.section179.org. Customers can also visit their participating New Holland dealership for details and eligibility requirements.