Connecting Point will remain open until 6pm today (December 31st). This includes both sales and service departments. If you’re a business owner, that means you still have time to take advantage of the IRS‘ Section 179 deduction.
When your business buys certain types of equipment, it usually writes them off a bit at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are for illustrative purposes only).
Now, while it’s true that this is better than no write off at all, most business owners would prefer to write off the entire equipment purchase price for the year they buy it.
That’s the purpose behind Section 179: To stimulate the American economy (and your business) to move in a positive direction. For most small businesses, the entire cost can be written off on their 2013 tax return.
So don’t miss out – talk to your financial advisor right away. If it makes sense, pick up the computer systems and peripherals your business needs to remain strong and competitive in the coming year. And Connecting Point will remain open until 6 pm on New Year’s Eve to help make that possible. We can even offer up to 18 months interest-deferred financing for qualified applicants.
For more detailed information about Section 179, visit the Section179.org website.