Do you have equipment at work that needs to be replaced? Although you may be trying to make it to the new year until replacing that out of date copier or printer, you may want to reconsider. Section 179 of the current tax law allows you to take a full deduction in the first year for qualifying capital property.
This small business tax incentive allows you to take a deduction immediately for the item as long as:
- The item is purchased and put into service in 2019
- Your deductions are within the $2.5M spending cap
- Each individual item is $500,000 or less
- The property must be tangible and depreciable
Whether you’re looking to replace a single copier or printer or it’s time to optimize and streamline office operations, by leveraging Section 179 and the expertise at Coordinated Business Systems, you’ll be able to get the right equipment in place to save your business time and money.