Planning Overview

The Section 179 deduction allows businesses to write off the full cost of qualifying equipment in the year it’s purchased and used, rather than depreciating it over time. This tax benefit helps companies reduce their taxable income immediately, making it easier to invest in essential assets while lowering overall costs.

Talk to your Amur Representative to see how financing can help you take advantage of this deduction.

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Common questions

What other information will be required for the application?
Include the vendor's name and address. If it's a private party sale for titled vehicles, specify upfront. Equipment Type-Specific Information For certain equipment types, additional information may be required:
- - OTR Transportation & Car Carriers: Bank statements
  - Residential Construction: Bank statements
  - Medical: Medical license
  - Food Service: Bank statements and, if applicable, property lease and/or franchise agreement
What additional information is required for financing amounts above $250K?

For amounts exceeding $250K, please provide complete financial statements for the last two fiscal years plus the most recent year-to-date (YTD) available. Management-prepared statements are acceptable if accompanied by a corporate tax return
What else can I include to make the decision-making process go as fast as possible?
While not strictly required, providing more information can lead to faster decisions:
- 1. Complete bank statements for the last three months of your primary revenue account
  2. Detailed business background
  3. Financial statements and bank statements for all transaction sizes
  4. Explanation for any past bankruptcy or material lien
  5. List of top customers by revenue
  6. Existing financial obligations
  7. Your internal business case for the equipment purchase
  8. Professional biographies
  9. Personal financial statements
  10. Business ownership structure
What vendor information is needed?
Include the vendor's name and address. If it's a private party sale for titled vehicles, specify upfront. Equipment Type-Specific Information For certain equipment types, additional information may be required:
- OTR Transportation & Car Carriers: Bank statements
- Residential Construction: Bank statements
- Medical: Medical license
- Food Service: Bank statements and, if applicable, property lease and/or franchise agreement
What can I finance?

Any business essential equipment.