Don’t Miss Out On This Year’s Equipment Tax Benefits
Thanks to Section 179 of the IRS tax code, businesses have significant incentive to acquire and install capital equipment (including hardware and software) before December 31, 2014.
Section 179 allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the full purchase price from your gross income on your 2014 tax return, instead of having to depreciate the investment over several years.
Highlights for Tax Benefits:
This 2014 deduction limit is $25,000 plus an adjustment for inflation. This means businesses can deduct the full cost of qualifying purchases from their 2014 taxes, up to $25,000.
To find out how much you’ll save, try the free Section 179 Savings Calculator available here.