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If You Haven’t Made Equipment Purchases This Year – Hurry!

By December 16, 2015March 6th, 2023Blog, Technology News

if_you_haven___t_made_equ_110984_205459As a business owner, you know how important it is to take advantage of every tax deduction you can. Section 179 can be a huge boon to you, but only if you act before December 31 of this year.

What is Section 179? It’s a fairly recent amendment to the tax code that allows business owners to deduct the full purchase price of up to $25,000 worth of qualifying equipment (almost all equipment qualifies, by the way, including PCs, laptops, smartphones, servers, printers, network switches, and off the shelf software, so make a list and check it twice). No hassles about figuring out what percentage you can deduct, just take the full value of the equipment right off the top, and save a bundle on your tax bill.

This was one of the stimulative measures put in place to help businesses help the economy as a whole, encouraging purchases and upgrades and generally stimulating demand. It’s a good deduction, but there’s no guarantee that it will survive from one year to the next. Congress can, with the wave of a pen and a single vote, end it for next year, so if you’ve got money in the budget and are looking for a way to buy needed equipment and get a nice tax break at the same time, then Section 179 is your answer. Not taking advantage of the full value of the deduction is as good as leaving money on the table, and what business owner wants to do that?

The reality is that some of the programs or changes to the tax code that are ostensibly designed to help businesses don’t actually do much of anything. Section 179 does. It actually delivers. Take advantage of it while you can. Remember, the deadline is December 31, so the time is now.

Jason Manteiga

Jason J. Manteiga, Vice President of Olmec Systems, has been part of the company for over the past 20 years. He believes that having a great work environment and supportive team, is the ultimate key to success. Since being in the IT realm for over 25 years, Jason, along with Olmec Systems, has been on the Inc. 5000 “List of America’s Fastest Growing Private Companies” and Channel Futures MSP 501 “Top Managed Service Providers in North America,” along with other awards and nominations. Jason earned his Bachelor Degree in Information Systems from the New Jersey Institute of Technology. He also holds certifications in Microsoft MCSE, VMWare VCP, and Cisco CCNA. In his spare time, Jason is a contributor for The Center for Social & Legal Research (Privacy Exchange) and a member of the Morris County Chamber of Commerce. His hobbies include cycling and kayaking. He currently lives in New Jersey with his wife, two daughters and son.