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Installing NxtWall Demountable Walls Offers Big Tax Savings for Businesses

Installing NxtWall Demountable Walls Offers BIG Tax Savings!

How can you save money installing NxtWall demountable walls? Interior demountable walls under Section 179 are classified as furniture and fixtures by the Internal Revenue Service (IRS). Taking this deduction allows businesses to lower their current-year tax liability rather than capitalizing an asset and depreciating it over time in future tax years.

Simply by taking advantage of the IRS Section 179 deduction and the 100% Bonus Depreciation Deduction, companies can substantially reduce the cost of demountable walls and save thousands of dollars the first year the wall system is installed. The 2022 deduction maximum is $1,080,000 which is up $30,000 from last year. This spending cap makes Section 179 a true “small business tax incentive”, because larger businesses that spend more than $3,780,000 on equipment won’t get the deduction. Once the maximum Section 179 deduction of the wall system purchase price is met an additional bonus deduction can then be taken.

NxtWall Tax Benefits

Download a PDF copy of the Tax Benefits of NxtWall’s Demountable Walls.

Download PDF

The bonus depreciation can be used to add even more savings. According to the Internal Revenue Service, the Bonus Depreciation allows businesses to deduct additional depreciation for the cost of qualifying property, beyond normal depreciation allowances. It is intended to spur capital purchases by small and mid-sized businesses. The rules allow for a Bonus Depreciation of 100% in 2022 for all qualified purchases made before the end of the year. Section 179 together with the bonus depreciation offer companies a strong incentive to put more money back into their businesses and buy now before the bonus deprivation is eliminated or substantially reduced.

Section 179 Deduction

Important Limits for 2022
Deduction Limit: $1,080,000
   
Limit on Capital Purchases: $2,700,000
   
Bonus Depreciation: 100%
   
Must purchase before the end of the year: 12/31/2022
   

2022 Section 179 Tax Deduction Example:

Cost of Wall Systems:
(assuming a tax bracket of 35%)
$2,000,000
   
Section 179 Deduction (for 2022): $1,080,000
   
Bonus Depreciation Deduction (100% in 2022): $920,000
   
Normal First Year Depreciation: $0
   
Total First Year Depreciation: $2,000,000
   
Cash Savings on Purchase: $700,000
   
Lowered Cost of Walls (after tax savings): $1,300,000

* Tax rules are complex and depend on your individual situation. The NxtWall Tax Saving Calculator is for illustrative purposes only. Information shown with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. Consult your tax advisor to see how financing and Section 179 can benefit you.

NxtWall’s 2022 Tax Savings Calculator:

NxtWall Section 179 Deduction 2022 Tax Savings Calculator

Click the button below to use NxtWall’s 2022 Section 179 Deduction Tax Calculator and see how much you can save using NxtWall Demountable walls.

Try the NxtWall Tax Savings Calculator

FEATURED PHOTO

Modular glass wall offices NxtWall Flex Series
Modular glass wall offices - NxtWall Flex Series

 
Product: Flex Series

Market: Corporate/Business

Wall Frame Finish: MS Silver

Description: Flex Series 8’ ceiling height 1/4” clear tempered single pane glass offices. Built to existing soffit. Aluminum Framed Glass door (swing) with Cortland 2600 Standard Level Lockset.

See more Flex Series Images

 

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  • Why Choose a Demountable Wall System when Renovating an Out-of-Date Existing Structure?
  • Installing NxtWall Demountable Walls offers Big Tax Savings!
  • Creating the Perfect Office Design – a NxtWall Case Study
  • Why Multifunctional Rooms should replace Open Office Design
  • Despite global supply chain disruptions – NxtWall continues to have one of the fastest lead times in the demountable wall industry
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