In late 2015, Congress passed and signed the PATH Act, which had the added benefit of increasing the Section 179 deduction cap to $500,000 for 2016. This is great news for businesses, as Section 179 allows you to write off the full cost of technology purchases made during 2016. And as this deduction is only available to businesses whose total technology purchases for the year are less than $2 million, Section 179 is geared perfectly towards small and mid-sized businesses.
Perhaps the most important aspect of Section 179 to consider right now is the December 31st, 2016 deadline. Any business looking to take advantage of Section 179 is working with an increasingly tiny window. Only items purchased, shipped, and installed at your physical location by midnight on December 31st are eligible for this deduction. This means that not only do you have to place orders and have invoices prepared for your records, but the items in question need to be in use at your office.
In order to help businesses take full advantage of this opportunity, Apex Technology Management will be hosting a webinar on Thursday, November 17th at 10am to discuss Section 179 in detail. Register for this important event (click here) while there are still spaces available.
Want to learn more about the ways you can make Section 179 work for your business? Contact us at firstname.lastname@example.org or (800) 310-2739. We’re the trusted IT experts for businesses in Central and Northern California.