We talk often around here about the importance of the Section 179 tax deduction, and we should: It’s one heck of an important topic. As the year winds down and the holidays approach, you should be thinking about more than just the hottest Black Friday sales. You should be thinking of ways to take advantage of the Section 179 tax deduction for your end-of-year technology purchases.
Section 179 allows you to deduct up to $139,000 on a number of technology purchases, from computers to hardware and software, servers, and POS systems, there are a variety of ways to take advantage of the deduction.* With technology ever-changing and new versions released regularly, it certainly pays to take advantage of any price break you can get your hands on. This way, you’re able to stay up-to-date with the latest equipment.
So how does it work? It’s simple, just fill out this form from the IRS and submit it. But hurry, because the limits of this deduction will be dramatically reduced at the end of the year, likely to as low as $25,000. Any piece of technology used outside of the United States is not eligible, so keep that in mind.
Still have questions? Be sure to check out Direct Capital and our ebook with even more details on how to take advantage of this deduction. And, to find out how much you can save, plug your information into our Section 179 calculator.
Have you taken advantage of this deduction yet?
*This is not tax advice. Be sure to talk with your tax advisor to be sure that your specific equipment will qualify.
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