Navitas Leasing

Thank you for your interest in Smart Guys Computers equipment. The Smart Guys Computers Finance Program, powered by Navitas Credit Corp., can help you get the computer equipment you need while preserving your cash flow at the same time. We give you the ability to acquire our computer equipment through affordable monthly payment plans that can be customized to meet almost any budget. Get pre-approved in less than two hours! Our financing program, powered by Navitas Credit Corp., makes getting the capital you need simple and easy. All you need to do is complete and submit your pre-approval application and we do all the rest.

Section 179 tax deduction for 2024: What you need to know.

If you own a small business, the Section 179 deduction is one of the most essential tax codes you need to be familiar with. It lets you deduct all or part of the cost of equipment purchased or financed and put into place before December 31, 2024.

The only stipulation is that the equipment needs to qualify for the deduction. Smart Guys Computers has all the information you need to know, along with a helpful Section 179 calculator. It’s a good idea to become familiar with this tax incentive to plan for your business’s future regarding capital equipment purchases.

Section 179 limits and information on the Smart Guys Computers website are for illustrative purposes only; the Section 179 limits and information provided are subject to change by the IRS. Please visit the IRS website or consult a qualified tax professional for confirmation of the current Section 179 limits and information related to your situation.

Section 179 tax deduction limit for 2024.

For 2024, the Section 179 deduction and phase-out limit were increased for inflation. In 2024, the Section 179 deduction limit for qualifying equipment purchases is $1,220,000, and the phase-out threshold is $3,050,000.1

In 2024, bonus depreciation is 60% for equipment placed into service from January 1, 2024, through December 31, 2024. Bonus depreciation applies to used equipment, though it must be “first use” by the business purchasing or financing the used equipment.

How do I get the deduction?

Section 179 is a tax deduction for businesses that have placed new or used equipment into service within the year purchased or financed. This deduction is not automatic and must be elected. To elect to take the deduction, you’ll need to fill out IRS form 4562.

Make sure this completed form is attached to your tax return. Not all types of equipment qualify; therefore, you should consult your accountant or tax professional before making any purchases.
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