End of Year Tax Benefits for Businesses
| November 23rd, 2009 |
Take advantage of favorable 2009 tax-year benefits for businesses by purchasing new Apple hardware & software technologies for your business before December 31.
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. Most types of business equipment qualify for this deduction, offering small businesses a great opportunity to maximize their purchasing power. While Tamman Tech doesn't sell Apple products we would be happy to put you in touch with our Apple Sales Representative who can offer great discounts and financing.
Here are a few key points about Section 179 deductions:
- Buying new equipment can be profitable for the tax year because the tax savings often exceed the first year's payments (assuming a 35% tax rate).
- Businesses can take full deductions for purchases up to $250,000 (only for 2009) if overall spending is less than $800,000.
- Businesses can take advantage of accelerated depreciation for amounts > $250,000 in 2009.
- Eligible property includes computer hardware and off-the-shelf (boxed) software that has been acquired by purchase for business use.
- New and used equipment qualifies for deduction as long as it meets eligibility criteria.
We encourage you to consult with your tax advisor to find out if your hardware and software purchases qualify for deduction under Section 179.
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