As a business owner, you strive to grow your company, increase revenue, and reduce costs. One way to do all three is to purchase the right equipment for use in your trade or business. In many cases, you can do this through a Section 179 deduction. Within the rules of Section 179 of the IRS Tax Code, a business may be able to legitimately deduct, for the current tax year, the full purchase price of qualifying equipment placed into service before December 31st of the year the deduction is to be taken. Before making a new equipment purchase, talk with your tax adviser or CPA to see to if your business can use the Section 179 deduction for a tool purchase. To learn more about Section 179 deduction, read the IRS publication 946: "How to Depreciate Property."
Here are the steps for cutting your tax bill with a DynaVibe purchase:
Must be acquired for business use. Must be acquired by purchase. Tax-exempt organizations, estates, and trusts cannot elect the section 179 deduction. Business income limits may apply. |