Tax 179 deduction

Invest in Yourself with the Section 179 Tax Deduction

When a new employee joins your company, chances are they are given a laptop that has actually been handed down many times previously. It’s not unusual for companies to try to stretch their computer abilities over the course of a decade, and as the dust settles in, it’s no surprise when computers “suddenly” stop working.

We see technology as a way to make life simpler, but when your tech starts to stop working, it slowly produces brand-new troubles and ultimately costs you more money in downtime and lost productivity than it would cost to acquire brand-new devices.

Here’s the good news: The federal government understands this desire to save money by upgrading your equipment less often–and they’re combating it with Section 179.

Exactly what’s the Section 179 Tax Deduction? Well, rather than waiting on your devices to fail on you, Section 179 lets you subtract the complete price of any qualifying equipment or software purchased or rented throughout the year. This includes:
Bought, financed or rented equipment
Workstations, laptop computers, tablets, mobile phones
Servers, printers, routers, network switches, network security devices
Off-the-shelf software (productivity, administrative, operating systems, etc.)

Now, there’s no need to put off purchasing or leasing hardware and software when you can write-off the total. Organizations that buy, finance or rent less than $2M in brand-new or used businesses equipment qualify. You just need to make certain the equipment and software are placed into use by December 31, 2017.

For a lot of situations, applying the tax break will be as easy as subtracting the total of the purchase as a Section 179 expenditure; although, in some cases it can be a bit more difficult. To learn more about Section 179 or if you require assistance starting, contact us to request your complimentary, no-obligation Section 179 assessment.