For years, Section 179 has been a vital deduction for businesses, and an effortless way to save tens of thousands on your systems and equipment investment. Section 179 applies to software, hardware and implementation. In order to receive this significant tax deduction, your new business system(s) and/or equipment must be purchased before December 31, 2017.
Does my business qualify for Section 179?
All businesses that purchase, finance and/or lease less than $2,000,000 in new or used business equipment during the 2017 tax year should qualify for the Section 179 deduction.
For basic guidelines on what property is covered under the Section 179 tax code, please refer to this list of qualifying equipment. Also, in order to qualify for the Section 179 tax deduction, the systems/equipment must be purchased by December 31, 2017.
An example of the Section 179 tax benefits your business could receive in 2017 are shown below:
Helpful Tip: An ERP software investment of $150,000 would have more than a $50,000 cash savings as a result of the deduction (assuming a 35% tax bracket), and would bring the effective purchase price to just under $100,000 which can be financed over a period time.
Don’t miss out on the opportunity to invest in your business today for a fraction of the price!
Purchase your systems/equipment before the tax incentives end on December 31, 2017. Follow the link below to access our free Section 179 calculator to determine your company’s potential savings. Please note: Synesis recommends consulting a tax professional to confirm IRS
Section 179 deduction eligibility.