Have you heard of Section 179?
It’s part of the IRS tax code that’s aimed at helping small businesses, just like yours.
When you buy new equipment or some software you can deduct the full purchase price from your gross income this year, rather than depreciate it over a few years.
It was designed to encourage you to invest in your business. And it’s a generous relief… you can write off up to $1,160,000 in this tax year.
There’s a comprehensive guide with illustrations and information you can run by your CPA here.
If you want to take advantage of this opportunity to purchase new computers, technology, or software, it’s important that you act quickly.
That’s because, to qualify, you must have purchased the equipment or software and put it into service by the end of the day on December 31.
Delivery timelines can be unpredictable at this time of year. And so, the earlier you order, the more likely you are to get your supplies in time to take advantage of this opportunity.
Bottom line: It makes a lot of sense to invest now in anything you are likely to need in 2024.
My team is here to help. Feel free to reach out:
Call now: 704 464 3075 ext 2
Or email: support@weareproactive.com
Please reach out if you have any questions.
Dedicated to IT security and productivity,
– Steve
About Steve Kennen
As an expert in information technology infrastructure management, cybersecurity, and cyber risk management practices for small businesses, Steve spearheads initiatives that keep his clients secure and their business operations running smoothly. His core message is that the details matter.