DISCLAIMER
Pro Playgrounds and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
HOW PURCHASING COMMERCIAL PLAYGROUND EQUIPMENT MAY PROVIDE TAX INCENTIVES FOR BUSINESSES
If you purchase commercial playground equipment for use in your business, you may be able to expense it through an accelerated deprecation method. The most popular method (Section 179) allows you to expense the entire cost of the playground in the year it was purchased, even if the equipment was financed in full. With Section 179 of the IRS tax code, businesses can deduct the full purchase price of their qualifying equipment purchased or financed during a given year using IRS form 4562. The maximum deduction for the year 2022 is $2,5000,000. One thing to note about this deduction is that it’s good on both new and used equipment. To qualify for the deduction in 2022, you must purchase or finance the equipment and begin to use it during the calendar year 2022.
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