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Equipment Financing Information

Act Now for 2017 Tax Savings!

The two tax savings strategies that can help you reduce your 2017 taxes are Section 179 and Bonus Depreciation.

To take advantage of these deductions, equipment must be installed and in service by Dec. 31, 2017.  With current lead times on some equipment reaching 6 weeks, and additional lead times for scheduling installation, waiting much longer may put these tax savings out of reach for 2017.

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Will Capital Equipment Be 25% More Expensive Under the Trump Tax Plan?

The proposed tax changes by President Trump are an ambitious attempt to both improve the current tax code and stimulating the economy.  For C-store owners, there are four areas that deserve a closer look as they may make purchasing capital equipment such as gas pumps, underground tanks or beer caves more expensive.  These areas are the lower value of capital depreciation, the border adjustment tax, potential change in Section 179 accelerated depreciation and rising interest rates.

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Identify Theft – What should small business owners do to protect themselves?

Protecting your social security number may not be the only number to safeguard if you run a business.  Your company may have an Employee Identification Number (EIN), which is the business version of a social security number and used to identify it.  An EIN is needed to open bank accounts or take out credit, but it doesn't have the same protections that an individual's social security number benefits from.  Theft of EINs allows fraudsters to potentially open up lines of credit in the company's name or empty bank accounts.

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Tax Time - Are You Optimizing Your Capital Depreciation?

Every year at this time, business owners reflect on the taxes that they are paying.  A recent Wall Street Journal article1 highlighted the fact that the average tax rate for larger U.S. corporations is 21.2%2, noting “most mid-size and smaller firms pay much higher rates.”

One tax strategy that gas stations can use to lower their taxes and improve their cash flow is Section 179. This tax incentive enables those purchasing new or used capital equipment or making site improvements to capture benefits in the current tax year.

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Patriot Capital - 1200 Ashwood Parkway
Suite 570, Atlanta, GA 30338 877-527-0383