Save on print equipment before the end of the year with Section 179
It’s been a good year for your company. Now, how do you keep more of the profit in your company?
Section 179 may be the answer.
What is Section 179?
The Section 179 tax code allows you to use accelerated depreciation of any new, used or leased machine that you install in the current calendar year. That means that you can lower your taxable income…which means less that you pay in taxes. Another upside of Section 179 is that you can use the accelerated depreciation for an expansion of existing equipment needs, the replacement of older technology or tired equipment, or maybe adding a new revenue stream to your business…all the while using money that would have been paid to the IRS.
What types of purchases qualify for Section 179?
Most types of business equipment purchases will qualify for Section 179 deductions. Most of the products we offer here at Print Technologies qualify as office equipment. Learn about all of the items that qualify here.
It’s December…is it too late to use Section 179?
Now is the time to start looking at your taxes and see if this will save you money. Everyone’s business is different, so it is always a good idea to talk to your CPA or accountant to see how your company will benefit from Section 179.
How might it work with equipment from Print Technologies?
The Section 179 website has a calculator that allows you to see how this accelerated depreciation works. This calculator shows you how this tax law will affect your business.