The Time to Purchase New IT Equipment is Right Now
There Are Two Ways You Can Benefit
Planning on buying new equipment in the next year? If you can afford to do it now, this might be a no-brainer for you - for 2 reasons.
Reasons #1: Supply Chain Issues
Reason #:2: IRS Section 179
Reason #1 to Buy Now: Supply Chain Issues
Were you planning on buying new hardware next year? Buy it now to expect it to possibly arrive early-middle of next year.
Devices as small as a mouse may even take time to get. Logitech Chief Executive Bracken Darrell told Reuters, “The time to air-freight components has increased to two weeks from four or five days previously, while costs have spiraled.”
Companies like Lenovo and HP have publicly stated they are having supply chain issues.
The supply chain issue is being compounded by the return to work. The Wall Street Journal reports that companies are struggling to get electronic equipment for workers returning from home offices
Reason #2 to Buy Now: IRS Section 179
What is IRS Section 179?
The Section 179 tax deduction is an economic incentive offered by the U.S. government to encourage companies to invest in their business’s longevity by making qualified equipment purchases.
Qualified purchases include:
New or used equipment
To qualify for the Section 179 deduction the hardware and off-the-shelf software you purchase must be placed into service on or before December 31, 2021.
In addition, these products must be used for business purposes, at least 50% of the time. You must use qualifying software for income-producing activity and expect it to be in use for at least one year.
Can I Finance the Purchases?
Yes - you can finance these new items and the amount you will save through Section 179 can exceed your payment amounts through your financial agreement.
How Much Can My Company Save Through Section 179?
Section119.org provides a Section 19 Savings Calculator to help you determine your company's situation.
Ashe Cosgrove can help you too.
If you're planning on buying new equipment in the next year, and can afford to do it now, this is a no-brainer for you!!
Take advantage of Section 179!
Not sure? Talk to Ashe Cosgrove.
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