But You Have To Act FAST…
Thanks to a recently updated tax deduction titled “Section 179 Election”, the Federal Government now allows you to buy up to $1,000,000 in machinery, computers, software, office furniture, vehicles, or other tangible goods and thereby REDUCING your taxable income on your current year’s tax return.
Essentially, Section 179 of the IRS tax code 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. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.
Effective January 2, 2018, H.R. 1 (aka the Tax Cuts and Jobs Act) had a substantial (and welcome) impact on Section 179. The biggest impact is that it increased Section 179's deduction from $500,000 to $1,000,000.
This could mean a substantial boost to your bottom line this year. But to get the deduction for tax year 2018, you have to act now, as once the clock strikes midnight on 12/31/2018, Section 179 can't help your 2018 profits anymore.
Act now to save a lot of money on IT services and support for 2019 and beyond. Just call Josh directly at (512) 717-9061 for more information.