... is really to love it.
Small Businesses should take advantage of such a useful process.
Section 179 (http://www.section179.org/) essentially allows your business to write off a qualifying technology purchase up to a certain limit (typically 250k) instead of writing off a depreciated amount over time each year.
The benefit to your business is obvious. Let's say you needed a new server and network overhaul. For a small business of 25 seats, this could be a process that costs anywhere from $50,000 to $80,000 on average. Section 179 would allow you to take a tax deduction equating to the amount spent on qualifying equipment. Instead of writing off 10k a year for 5 years on a $50,000 purchase, you may deduct the whole thing in year one.
Over the past few months, I have made a point of emailing my clients who have made investments in technology over the past year or are considering doing some year end work so they may take advantage of this section when filing for 2008.
It also has been a great way to drum up so new business!
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