Sure, Halloween has only just come and gone, and you’ve still got Thanksgiving to think about, but the reality is that you don’t have as much time as you may think you have to start planning for 2017. It may seem early, but the fact is that the sooner you start thinking about next year’s budget, the better prepared you’ll be.
Case in point: taxes. In particular, Section 179, a tax deduction that’s available to businesses like yours to help offset the cost of investing in modern technology. The current cap is set at $500,000; interested in finding out how much you could save?
It will depend on the qualifying hardware and software that you’ve purchased and will put to use prior to the December 31st, 2016 deadline. This is why you need to start thinking through your budget now, and not after you’ve finished your holiday shopping.
By getting a head start on your budget, you could potentially save thousands of dollars in tax deductions when it comes to your business’ IT. Use this deduction calculator to get a better idea as to what you could save by the end of the year, and carry over to invest in the next. Eligible technology includes software and hardware (both specialized and generic), and even office furniture!
Need a hand with your IT budgeting? Reach out to Intelice Solutions right away for an expert consultation. However, please keep in mind that Intelice Solutions is an IT provider, and while we can offer you our advice, you should direct any questions about the finer points of Section 179 to your CPA or tax attorney.