Eliminating your taxes with equipment purchases

Equipment purchases: Do you have a business? Would you like to eliminate taxes on that business?
New law: You can deduct 100% of the cost of any new equipment even if it creates a loss in business. There is no limit on this either.
You can even deduct up to 500K of used equipment purchases,but it can’t create loss
Big Tip: you can financ…e equipment purchases and still deduct 100%
Elaboration: You buy $150,000 worth of equipment for your buisness. You pay $15,000 as a down payment and finance the rest. You get to deduct the full $150,000 this year.
Caution: you need to keep the equipment in your buisness between 5-7 years, depending on the equipment, or you will have to pick up part of your deprecation as income.

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