Tax Prep on desk

Investment Incentive: New tax law allows bonus depreciation on used equipment

Used equipment buyers are the recipients of expanded benefits with the passage of last year’s tax law, including the ability to combine Section 179 Expensing and first-year bonus depreciation. Previously, bonus depreciation was limited to new purchases only. Section 179 Expensing by itself can be significant, and generally companies use this deduction first. The Tax Cut and Jobs Act doubled the deduction limit to $1 million on qualifying equipment purchases, including previously owned machinery. It also raised the spending capRead More

Money stacked

Tax Law Spurs Optimism

Tax reform took firm hold this year, affecting both individuals and businesses, including major changes for some in the construction industry as Congress passed and President Trump signed H.R. 1, The Tax Cut and Jobs Act, last December. This legislation, in most cases, increased take-home pay, lowered corporate tax rates and included provisions designed to increase expensing limits. The signature piece of the legislation may be a reduced corporate tax rate, which was slashed from 35 to 21 percent andRead More

Tech working on machine

BUILDING THE FUTURE: New service tech training program

When Ann Pollert watched members of the inaugural class for the Komatsu Diesel Technician Program at North Dakota State College of Science (NDSCS) walk across the stage to receive their diplomas, it was the culmination of 10 years of planning and an important step in helping the heavy equipment industry address its shrinking workforce. “This was a goal of ours for a while,” said Pollert, who is the Technician and Career Developer at General Equipment & Supplies, Inc., a KomatsuRead More