Use It, Don't Lose It!
Are you worried that the broken printer that has been slowly dying and hanging on for dear life for the past 6 months, won’t be replaced until next year? Well, put away your office equipment smashing bat; we have some news for you!
According to Section179.org, using last minute, end of the year funds to purchase office equipment by December 31, 2017 could be highly in your favor with tax deductions as high as $500,000. Accessing this free website, gives you information on the Section179 tax deduction, an estimator calculator, FAQ regarding the tax deduction, bonus depreciation, and more!
As of 2016, the government has made the tax deduction of $500,000 a permanent policy. This is great news for any small to mid-sized business.
For more information on what spending funds your company may have available, please consult with a CPA or accountant, and a tax professional.
Questions? If you have any questions regarding purchasing IT equipment for your business before this tax deduction expires, please contact us at 757-628-8324.