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Big Technology Tax Incentives

Tuesday, December 03, 2013

As the year comes to a close, many businesses begin to look ahead at budgets for the upcoming year. Instead of waiting until 2014 to purchase new or used equipment, you may want to do so within the next 4 weeks so you can take advantage of some great tax incentives. Section 179 of the IRS tax code permits full write offs for qualifying purchases!

On or before December 31st, 2013, you can take advantage of these tax breaks:
  • If you purchase, lease, or finance new or used equipment you may expense up to $500,000 in the first year!
  • Assets purchased in excess of $500,000 may be eligible for 50% bonus depreciation. This is available on “new” equipment only. 
  • The maximum that can be spent on equipment before the Section 179 deduction begins to phase out is $2,000,000.

To learn more, go to section179.org or consult your tax advisor. Contact your account manager or lead consultant at IT Resource to take advantage of this great year-end tax break savings!
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