We have been living in a world of unprecedented times where many business owners are watching their finances and cutting back on spending. While some expenditures may seem unnecessary, it has been made clear how important it is to adapt to progressive technology, equipment, and software. If you are a business owner that has been struggling between the decision to purchase new equipment or remain financially conservative, we just may have the solution! Section 179.
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software. This means if you buy (or lease) a piece of qualifying equipment and/or software you can deduct the full purchase price from your gross income! If you have purchased, financed, or leased during the 2020 tax year then you should qualify for the tax deduction.
Emerald Document Imaging is here to help provide a solution for your firm and assist you with benefits of section 179. Visit www.emeralddocument.com/section 179 for a savings calculator and see how much you can save this year.