Did you know that IRS Section 179 allows you to take a same year tax deduction for every dollar of equipment that you buy or finance up to $1,000,000. That’s right 100% of the entire purchase price for the current tax year.
In years past, when your business bought equipment, it was typically to write off a little at at time through depreciation. So for example, if your company spent $5,000 on equipment, you wrote off(say) $1,000 a year for five years.
Section 179 is available for purchase on new and used equipment, including telephone and security systems. To take the deduction for tax year 2018, the equipment must be financed or purchased and installed by the end of the day on December 31, 2018.
Many businesses have used Section 179 to purchase needed equipment this year. Have you taken advantage of this tax savings?
Call In Sync Systems at 815-459-1173. We can install your CCTV camera system, phone system, or upgrade your low voltage wiring by the end of the year to take advantage of this tax deduction.