Please forgive me for the headline if it seems a bit “sensational,” but I really needed a way to get your attention about a perfectly legal way to save quite a bit of money on taxes while updating outdated computer equipment that is going to quickly pass you by if you don’t act soon.
Thanks to the recently updated tax deduction titled “Section 179 election” (see www.section179.org for details), the Federal Government allows you to buy up to $25,000 in machinery, computers, software, office furniture, vehicles or other tangible goods and take the full expense deduction in the current year, thereby REDUCING your taxable income on your current year’s tax return.
It’s important to note that this is significantly less than the 2013 deduction allowances, but is still real money in your pocket! But you have to act now, as once the clock strikes midnight on December 31st, Section 179 can’t help your 2014 profits anymore.