Make a Profitable Decision in 2011 - Special End of Year Tax Break on Your Communications Purchase!
Posted on Thu, Dec 15, 2011 @ 02:56 PM
Yes, it’s true. The U.S. Government is encouraging businesses to buy equipment and invest in their future! Section 179 of the IRS tax code has been designed to make purchasing business equipment financially attractive. Under the code, businesses can deduct the full purchase price of any qualifying equipment and/or software purchased or financed during the tax year. That means if you buy (or lease) businessequipment and put into service by 12/31/11, you can potentially deduct the FULL PURCHASE PRICE from your gross income!
This year, the government has further increased the allowable limits to help stimulate the economy. All businesses that purchase, finance and/or lease less than $2 million (up from $800,000 previously)of new or used business equipment during tax year 2011 can write off as much as $500,000 (up from $250,000 in previous years).Any remaining amount above $500,000 qualifies for Bonus First Year Depreciation. For 2011, the bonus depreciation is 100%, but in 2012, it will drop down to 50%, so it’s important to act now.
Leasing is particularly attractive since you will be deducting the full equipment price even though you will not have paid the full amount as yet. Your deduction may actually result in a profit! And, if your business wasn’t profitable in 2011 (that is, there is no taxable income to deduct from), you can carry the cost of the new equipment forward to a future year when your business becomes profitable again.
With just two weeks left in 2011, now is the time to move forward with your business communications purchase or lease. IP Communications Integrator Xtelesis (www.xtelesis.com) stands ready to help you upgrade your current system or purchase/lease a new one by offering a full suite of voice and data communications solutions for businesses of all sizes, partnering with leading providers like ShoreTel, Vidyo, LifeSize, Aerohiveand others.
Take advantage of Section 179 and thisincredible tax incentive before 12/31/11. Make yourmost profitable decision this year, and contact us today! One of our Account Reps will contact you shortly.