The Datamax Thinking Blog

Section 179 Deduction of the IRS Tax Code is an immediate expense deduction that business owners can take for purchases of depreciable business equipment. 

Continuing to invest in new technology equipment to maximize efficiency is a valuable endeavor for organizations looking for a competitive edge. It's even better when you can maximize tax deductions as well.

Section 179 and Bonus Depreciation are two components of the 2017 TCJA (Tax Cuts and Jobs Act) that present potential tax savings for your organization if you're in the market for copiers, printers, or other related technology hardware or software. To maximize the current incentive, qualifying equipment must be financed or purchased before January 1, 2024. Also of note: Beginning Jan. 1 of this year, bonus depreciation has begun to phase out over the next four years.

Almost all types of “business equipment” new or used that your company buys or finances will qualify for the Section 179 Deduction and/or Bonus Depreciation.

Need a little additional "incentive" to close out your year with the acquisition of office technology? Section 179 and Bonus Depreciation are two components of the 2017 TCJA (Tax Cuts and Jobs Act) that present potential tax savings for your organization if you're in the market for copiers, printers, or other related technology hardware or software.

But you'll need to act fast.  To maximize the current incentive, qualifying equipment must be financed or purchased before January 1, 2023.

Almost all types of “business equipment” new or used that your company buys or finances will qualify for the Section 179 Deduction.

Still considering an upgrade on that antiquated office equipment? For small to medium-sized businesses searching for ways to boost productivity and improve profitability through technology investment, there's a big incentive to do so now — The Section 179 Deduction. 

Just as Aristotle said centuries ago, “Quality is not an act, it’s a habit.”

You’ve seen lists like this before.

The web is overflowing with videos and blogs that offer headlines like “9 Daily Habits of Highly Effective Leaders” or “23 Habits any Entrepreneur Must Exercise.” Peruse any business section of a bookstore and you will find more of the same.

Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income.

Small-to-medium sized businesses looking to bolster their workflow environment can now utilize technology addition by deduction — the Section 179 Deduction.