This helps US manufacturing businesses grow through their investment through two tax incentives. Firstly, you can expense up to $1,000,000 from manufacturing software purchases in 2019 if the software is implemented by December 31st 2019. In addition, a first-year bonus depreciation allows for a 100 percent bonus deduction, with a spending cap on purchases of $2,500,000.
Aimed at supporting small and medium manufacturing businesses, these tax incentives apply to the full range of Autodesk advanced manufacturing solutions to help you to implement manufacturing software in your facility at a lower expense. Whether you need manufacturing software for CNC milling, additive manufacturing, plastics simulation, or robot programming, you can apply Section 179 if the software is for business use only and being used in your shop by year end.
As we near the end of 2019, now is a great time to purchase manufacturing software for your shop. There is still time for implementation by the end of the year, and if you don’t use the deductions in Section 179, you miss the opportunity to save cash. In addition, if the holidays are a slow time for your company, this could be an ideal time to train your team on new manufacturing technology and minimize production downtime.
Check out the information on the official Section 179 website and find out how much cash you can save on your manufacturing software investment with their Tax Deduction Calculator™.