Section 179
Act now – you lose this “hidden” tax relief on 12/31
Executive summary:
Hidden government benefit: There’s a little known tax relief called Section 179. Where you can write off the entire spend on new IT hardware and software in this tax year (rather than depreciate over a few years)
The clause: To qualify you must make the purchase and put it into service by the end of the day on December 31.
The urgency: Time and supplies are running out! Literally… Christmas will slow B2B purchases down. And supplies of hardware are still massively disrupted due to the virus. You really should invest now in anything you think you’ll need in 2021
Have you heard of Section 179?
Have you heard of Section 179?
It’s part of the IRS tax code that’s aimed at helping small businesses, just like yours.
When you buy new equipment or software you can deduct the full purchase price from your gross income this year, rather than depreciate it over a few years.
It was designed to encourage you to invest in your business. And it’s a generous relief… you can write off up to $1,040,000 in this tax year.
There’s a comprehensive guide with illustrations, and information you can run by your CPA -here-.
If you want new computers, technology, or software, you need to act TODAY
See, the one clause is that you must have purchased the equipment or software and put it into service by the end of the day on December 31.
That means you only have a few days till the deadline. And Christmas will slow things down.
Not only that – we’re still seeing supplies of hardware hugely disrupted by the virus (the supply chains never got back to normal this year). It’s still difficult to get hold of certain specifications or pieces of equipment.
If there are more lockdowns next year and you want to source hardware then, not only will you have lost this tax benefits, but the technology you want might not be available.
So, if you can see any need at all to purchase new hardware, technology, or software in the next few months – act now, and benefit from Section 179.
Our team is on standby to help you
Unlike most IT support companies, we know all about Section 179, and how speed is of the essence. We’ve been gearing up to this for some time.
Here’s how to talk to us.
Call us now on (513) 239-7512 to tell us what you need
Email us at Info@RedDiamondiS.com
Or book a 15 minute video call at a time that suits you. Check out our live calendar!