NEWS ALERT: 2014 Section 179 Tax Deduction Extension Approved

NEWS ALERT: Section 179 Tax Deduction Extended for 2014 by Senate

The following news was reported by the website today: Updated Dec 17, 2014 – H.R. 5771 (the Tax Extenders Bill) passed by the House on Dec 3, 2014 was voted on and passed by the Senate on Dec 16, 2014 retroactively expanding the Section 179 deduction limits through 12/31/2014.

NOTE: The President still has to sign the bill to confirm it, but word is that he will. We will update this site to reflect the changes shortly. Contact us for the details of the Section 179 provisions.

How Does It Affect Catamaran Buyers?

Technically, the bill is a one-year, retroactive extension of the tax breaks, even though it only lasts through the end of this month (December 2014). Small business owners can benefit from this tax deduction if they buy or finance equipment immediately to make the December 31, 2014 cutoff for the expense write-off provisions. If you are interested in buying a catamaran to operate it as a small business, you can take advantage of tax deductions and bonus depreciation, this is your opportunity to make it happen. The qualifying rule is that you have to have the equipment available for service by 12/31/14 to qualify. So, to obtain Section 179-qualified financing for your business, you must apply immediately to make the cut-off at midnight 12/31/2014.

Take Advantage of These Tax Advantages for Yacht Buyers

We do have catamarans that will qualify, but inventory is limited.

Contact Us or call Stephen Cockcroft at 1.804.815.5054 for yacht availability and more details on how much you can save with these Section 179 business tax deductions.

Answers to the Most Common Section 179 Questions


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