Michigan’s Water Pollution Control Revolving Fund, better known as the State Revolving Fund (SRF), is a low-interest loan (2.5% for 20-year loans and 2.75% for 30-year loans in fiscal year 2016) financing program that assists qualified local municipalities with the construction of needed water pollution control facilities. If you have projects with components that address green infrastructure, water or energy efficiency improvements, or other environmentally innovative activities, project plans will need to be submitted by July 1, 2016. To date, the Strategic Water Quality Initiatives Fund (SWQIF) program has provided low interest loans for 21 projects, totaling $24 million.
Detroit, Perma-liner Industries has some exciting information that must be shared now as time is of the essence! It’s the Section 179 Deduction. This allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. More good news is that all businesses that purchase, finance, and/or lease less than $200,000 in new or used business equipment during tax year 2015 should qualify for the Section 179 Deduction.
2015 Deduction Limit = $25,000/ Spending cap on equipment purchases=$200,000
The deduction is good on new and used equipment, as well as off-the-shelf software. This limit is only good for 2015, and the equipment must be financed/purchased and put into service by the end of the day, 12/31/2015. Still reading this?? Give us a call so we can offer you our very best products and services now. 1-866-336-2568 / www.perma-liner.com
Section 179 is one of the few incentives included in any of the recent Stimulus Bills that actually helps small businesses.