The Section 179 Tax Deduction now allows businesses to write off 100% of the equipment they purchase in 2018. You read that right. 100%. Section 179 empowers small business owners to refresh their desktop computers, upgrade their phone systems, migrate their data to a new server, and much, much more.
Instead of stretching depreciation out over years, which was a requirement of the old tax law, new purchases can now be de-valued from day one.
“This is game-changer, and some of our clients are already reaping the rewards,” says James Hwang, COO at NexusTek. “At the end of the day, re-investing in your technology infrastructure is what’s really going to help you grow your business.”
As expanded forms of the bonus depreciations that have been around for years, these “new write-offs” expand opportunities for small businesses. Many owners may have already been receiving 100% deductions under Section 179 of the current tax code. Now, they can reduce their taxable income by way of a reduction in business income.
“Small business owners on the edge of the income limit can now re-invest in the tools their team needs to reach their full potential,” says Hwang.
“From content management software and cloud computing, to firewalls and data back-ups, the new Section 179 has finally given SMBs the excuse they need to take that first step in their digital transformation.”
WANT TO TAKE ADVANTAGE OF THIS NEW TAX BREAK?
One of our experts will guide you through the equipment and tools you need to modernize your technology infrastructure and grow your business.
Disclaimer: NexusTek does not provide tax, legal or accounting advice. The above has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.