The Everest Blog

Do you need a tax deduction in 2021? Will you be paying taxes in 2021? Would you like to pay less? Everest can help you start a business and actually PAY LESS taxes at the same time! You can typically get up to 35% of your purchase price back in tax deductions THIS YEAR!

That’s BIG news!

All Everest VX machines qualify for a government program called Section 179.

WHAT IS SECTION 179 AND WHY SHOULD I CARE?

Section 179 is simple. You buy, finance, or lease qualifying equipment, and then take a full tax deduction for this year. The Internal Revenue Service (IRS) introduced Section 179 as an incentive to help small businesses and boost the economy. Take advantage of this incentive by purchasing your Everest Ice and Water Vending machine before the end of the year so you can file for Section 179 on your tax returns next year. As long as your machine is purchased before the calendar year ends, you can take advantage of Section 179.

CLICK HERE TO BE TAKEN TO A SECTION 179 CALCULATOR

Here are the steps to taking the Section 179 tax deduction:

1. Make a qualifying purchase of tangible real property or make qualified improvements to real property.
2. Put the property in service in the year you wish to take the deduction.
3. Follow the instructions, and fill out the worksheet on IRS Form 4562.
4. Include Form 4562 with your business tax return.

BUT WHAT IF I FINANCE EQUIPMENT?

The IRS considers a lease to be a financed purchase so in most cases the full purchase price of the equipment can still be deducted in the first year, even if it is financed or leased. This is a significant benefit to businesses because they can take the full deduction even though they haven’t fully paid for the equipment. In fact, in many cases, the total tax savings can be more than the amount that was paid in the first year.

Time is running out.

Don’t delay, order your Everest Ice and Water Vending machine today to take advantage of this on your taxes next year!

Why not start your business now, and let Uncle Sam pay for part of your equipment? Click here to start your journey with Everest!