The Economic Stimulus Act of 2008 made changes to the Section 179 Tax Deductions for businesses. Before a business could write off a Hardware and/or Software purchase over 5 years. The change allows businesses to deduct the full purcahse price during that tax year. This was extended in 2009 and has also been extened for 2010.
Known as the "HIRE Act of 2010" business can deduct up to $250,000 on Full Purchase Price from their Gross Income. It's an incentive created to encourage business to invest in themselves. It is a government program so there are still many rules and regulation and something you need to talk over with your CPA or Accountant.
But if you are thinking that you need to replace and/or upgrade your system, now might be the time to do that. Since this is the 3rd year of the program, it's hard to say if they will extend it again.
As I mentioned in a previous Blog, we have a number of Discounts available for Software and Hardware to help you get ready for the holiday season.
Give me a call and I would be happy to review your system and what we could do to help you get in on a discount or two, as well as a great Tax Deduction.
Enjoy the 30 degree drop in temperature this weekend!
Marilyn
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Customer Comments
"American Recovery and Reinvestment Act has officially extended the Section 179 Tax Deduction increases for the 2011 Tax Year"
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