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IRS Increases the Maximum First Year Deduction Under Code Section 179

Section 179 of the IRS tax code offers huge incentives to small businesses to help you cope With the high costs associated with keeping your technology up-to-date. Recent changes apply to your 2010 return.

Section 179 allows you to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income, up to $500,000.

Qualifying investments Include new equipment purchases such as servers, computers, printers and off-the-shelf software, as well as other types of machinery, furniture and some storage facilities. It's a great way for small businesses to get the technology they need to keep up with the competition.

Expedite your tax savings by calling 516-466-2536. We look forward to hearing from you soon and wish you the very best.

 

Please note that DenTechNY is not a registered tax advisor. Consult your tax advisor for an explanation of this & other tax laws.



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