Chauffeured vehicle shopping scene from the International LCT Show at the Sands Expo in Las Vegas, March 16, 2015. The trade show floor at LCT-NLA Show East in Harrah's Atlantic City opens at 4:30 p.m., Sunday, Nov. 8. It's the last industry trade show until capital equipment tax write-offs are set to expire Dec. 31, 2015.
ATLANTIC CITY, N.J. -- Operators who purchase any vehicles or products at the Nov. 8-10, LCT-NLA Show East
can benefit from the Section 179
capital equipment tax write-offs still valid through 2015.
To take advantage of the current deduction and any retroactive raise, operators must buy the equipment and place it into service by Dec. 31, 2015.
The Section 179 Deduction is now $25,000 for 2015. This means businesses can deduct the full cost of equipment from their 2015 taxes, up to $25,000, with a "total equipment purchased for the year" threshold of $200,000, according to a tax deduction explainer from Crest Capital. Section 179 is a true small to medium business tax deduction. The deduction is unaffected until $200,000 in equipment purchases is reached (where it then decreases on a dollar for dollar basis.)
As of Nov. 3, 17 limousine and bus OEMs, manufacturers, coachbuilders and dealers had reserved exhibit space for the Show at Harrah's Atlantic City's Waterfront Conference Center, site of the trade show. Exhibitors will display vehicles for 11 hours total across the three days of the show.
ALL LCT EAST EXHIBITOR INFO HERE