Good news! Under section 179 of the IRS tax code, it’s possible to deduct some of the money spent on qualifying technology equipment from your taxable annual income. The big advantage is Section 179 allows for the entire deduction for 2023 all at once, rather than depreciate the amount and write it off over the course of several years
Eligible items under Section 179 include:
- Computer hardware
- Computer software
- Office furniture
- Office equipment
- Nonresidential property improvements:
- Security Camera Systems
- Door Access Control
Your tax experts
Depreciating assets over several years can be complicated, especially with tax laws constantly being revised over time. Talk to your tax expert to see if Section 179 can benefit your business. Heritage Technology Solutions’ expert can assist you with your purchasing decisions to make sure you make the most of these tax incentives and start saving today!