Maximize Your Tax Savings in 2024: A Year-End Equipment Investment
- 23/10/24
- read
Capitalize on the Accelerated Investment Incentive (AII)
As the year draws to a close, construction businesses have an extraordinary opportunity to significantly reduce their tax burden. By strategically investing in essential equipment before the end of the year, you can take advantage of the Accelerated Investment Incentive (AII) and enjoy substantial tax savings.
How the AII Can Benefit Your Business:
- Accelerated Depreciation: Claim up to 90% of the first-year depreciation on qualifying equipment purchases.
- No Maximum Deduction Limit: There’s no cap on the amount you can claim, allowing for substantial tax savings.
- Immediate Relief: Purchase equipment before December 31, 2024, to apply these savings to your 2024 taxes.
Potential Tax Savings:
To illustrate the potential savings, consider a $100,000 equipment purchase:
- 25% Tax Rate: Save $11,250
- 35% Tax Rate: Save $15,750
- 45% Tax Rate: Save $20,250
Seize the Opportunity:
To fully optimize your tax benefits, consult with your tax advisor. They can provide tailored advice and help you navigate the complexities of the AII.
Partner with Elvaan Equipment Solutions
At Elvaan Equipment Solutions, we’re committed to helping you make informed decisions. Our team of experts can assist you in selecting the right equipment to maximize your AII savings.
Don’t miss this chance to boost your bottom line and secure a brighter financial future. Contact us today to learn more and take advantage of this year-end opportunity.
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