Timely action for year-end tax planning could be especially important to take advantage of a host of tax breaks. These breaks will not be around next year unless Washington acts to extend them, which, at the present time looks doubtful.
At Beyer Imaging, we are dedicated to helping your office save money, increase productivity and streamline your workflow. We know that the more you know, the less likely you are to make costly mistakes.
Below explains how the Tax Relief and Small Job Act extended Section 179 to allow small business to deduct the full purchase price of qualifying equipment (deduction limit of $500,000) purchased or financed during the 2013 tax year. That means if you buy (or lease) qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income!*
Basically, Section 179 Works Like This:
When your organization buys certain equipment, it typically gets to write it off a little at a time through depreciation. For example, if your company spends $100,000 on office equipment, it gets to write off (say) $20,000 a year for 5 years.
While this is better than no write-off at all, most business owners would prefer to write off the full equipment purchase price for the year they buy it. The purpose behind Section 179 is to motivate the American economy (and your Business) to move in a positive direction. Most businesses take advantage of the Section 179 tax incentives in order to help lower the true cost of ownership on their business equipment.
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Beyer Imaging Can Help!
With the majority of our clients already saving over 50% off the list price, and with such a large savings available to your business, now is the perfect time to look to Beyer Imaging for a custom equipment solution.