Invest in Your Growth
This could be the most beneficial business decision you make this year!
Section 179 of the Internal Revenue Code encourages small businesses to invest in their growth by providing accelerated depreciation and tax deductions on qualifying business purchases.
- All businesses that finance equipment during the tax year 2021 may be eligible to deduct the full purchase price from their pre-tax income.
- Up to $1,050,000 of qualifying equipment may be written off on your 2021 tax return.
- To qualify for the deduction, the equipment must be put into use between January 1, 2021, and December 31, 2021.
- If you finance the acquisitions, with a loan or a capital lease, you can take advantage of the reduction to taxable income while spreading the payments over the useful life of the assets.
Business equipment included under Section 179 (including, but not limited to):
- Business phone systems
- Security/Surveillance systems
- Office furniture
Contact your Tax Advisor to see how your business may benefit from Section 179 this year!