As you are considering your end of year purchases, don’t forget to take into account section 179 deductions that may be available to your business. The tax code often allows you to deduct the full cost of equipment now, even as you’re paying for it over the next couple of years. So if you purchase or lease a $25,000 piece of equipment, tax savings could effectively reduce the cost to $16,250 ( assuming 35% tax bracket ). Contact your tax professional today to see how you can benefit from Section 179 so that you can plan your end-of-year purchases before time runs out! Contact Rob Amon or Tony Amenta to discuss these kinds of purchases further.
