According to Balboa Capital’s Section 179 Tax Deduction Survey, seven out of 10 small business owners plan to use Section 179 to deduct the cost of eligible business equipment that was purchased or leased in 2017.
Additionally, the survey revealed six out of 10 small business owners are planning to invest in new or upgraded equipment in 2018. The survey was sent to a sample of small business owners in a variety of industries nationwide in December 2017.
“We see that a significant amount of small business owners are planning to take advantage of the Section 179 tax deduction as the year comes to an end,” said Carla Freberg, vendor services manager at Balboa Capital. “They are evaluating their unused budgets and moving forward with equipment purchases to meet the Section 179 deadline on December 31. Balboa Capital can definitely help small business owners meet the cutoff date with our simple application process, easy approval requirements and ability to provide same-day funding of up to $250,000.”
Other key findings of the survey:
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