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 in the past. It’s not unusual for companies to try to extend their computer abilities over the course of a decade, and as the dust settles in, it’s not a surprise when computer systems “all of a sudden” quit working.

We see technology as a way to make life simpler, but when your tech starts to stop working, it steadily creates brand-new troubles and ultimately costs you more cash in downtime and lost performance than it would cost to buy brand-new equipment.

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

What’s the Section 179 Tax Deduction? Well, instead of waiting on your equipment to fail on you, Section 179 lets you deduct the complete price of any permitted hardware or applications purchased or leased during the year. This includes:
Bought, financed or leased equipment
Desktops, laptop computers, tablets, mobile phones
Servers, printers, routers, network switches, network security devices
Off-the-shelf applications (productivity, administrative, operating systems, etc.)

Now, there’s no need to postpone buying or leasing hardware and software when you can write-off the total. Businesses that purchase, finance or rent less than $2-million in brand-new or pre-owned businesses technology qualify. You simply need to ensure the hardware and applications are put into use by December 31, 2017.

For the majority of scenarios, applying the tax break will be as easy as deducting the total of the purchase as a Section 179 expenditure; although, in some cases it can be a bit trickier. For additional information about Section 179 or if you require help starting, contact us to request your complimentary, no-obligation Section 179 assessment.