Take advantage of this time-sensitive tax benefit!
October 21, 2021
Did you know that you may be able to qualify for significant tax savings by acting before December 31st? It’s easy with Section 179, which lets you deduct on your next tax filing the full cost of qualified office equipment you acquire this year.
What is Section 179?
The Section 179 tax benefit allows businesses to deduct the full purchase price of qualifying equipment or software purchased and/or financed during the tax year. To stay true to its purpose of stimulating business investment, the IRS allows nearly all equipment types to qualify for the Section 179 deduction.
Section 179 vs. Standard Depreciation
If a business doesn’t take advantage of Section 179, it must then capitalize the equipment and depreciate it over time. The depreciation route allows the business to deduct only the amount of the depreciation claimed for that year from taxable income.
It’s not too late!
Act now by contacting Doceo to discuss your office equipment needs. Visit our contact page online or call our main office at 888-757-6629.
*The above is for informational purposes only and is not intended as tax or legal advice. Your savings will depend on your effective tax rate. Always check with your accountant or tax advisor to verify your eligibility for any tax deductions.