Save up to $139,000 in tax deductions before end of year
Not many people are aware that there is a tax deduction incentive plan in place through 2012 that could save companies thousands of dollars. Businesses can make qualified capital purchases through the end of this year and save. DataSource Mobility provides best-in-class technology solutions and all of the technology equipment would qualify for this program.
Essentially the incentive plan allows a tax offset of up to $139K—in other words, a reduction in the amount of tax an organization would be responsible to pay (by up to $139k) in this year. This is good on new and used equipment, as well as off-the-shelf software. It is believed that the deduction amount will significantly decrease to approximately $25K in 2013. This means the option is only available through Dec 31.
The maximum amount of capital purchases allowed to be applied towards this program is around $560K. After that threshold, there are limits to how much can be deducted. So the total amount spent (up to $560k) will be eligible to reduce your company’s tax burden by up to $139k. And if the purchase amount is higher than $560k, there are still incentives in place. It applies to leasing and purchases both. The overall intent of this government offering is to increase the economy overall by encouraging capital spending. More details can be found at: http://www.section179.org/section_179_deduction.html
The important thing to note is that this reduces the total expense by reducing your tax burden. For example, a $2500 Panasonic Toughbook might have a further impact to your organization by allowing your company to write off the purchase on their taxes—reducing their tax liability by about $750 (this example assumes their tax rate is 30% ($2500 x 30% = $750 for the amount of actual deduction in tax expense)). This means that the actual adjusted cost for the unit would be not $2500 but instead $1750. Not a bad deal.
DataSource Mobility provides best-in-class technology solutions across a variety of industries. Our product portfolio includes Panasonic, Ergotron, Honeywell, Meraki, Dell, Cisco, HP, Gamber-Johnson, Havis and many more preferred technology solutions. Give us a call today 931.266.4242 and let us help you save thousands of dollars in taxes! Don’t wait, there are only 14 days left…