Create Your Own Tax Break for 2017!
The end of another year is near! Take advantage of the 2017 tax break for all 2017 qualifying equipment for your office. This means that if you buy (or finance) a piece of equipment you can deduct the Full Purchase Price (up to $500,000) from your gross income.
Section 179 Deduction: Until further notice, Section 179 will be permanent at the $500,000 level. Businesses exceeding a total of $2 million of purchases in qualifying equipment have the Section 179 deduction phase-out dollar-for-dollar and completely eliminated above $2.5 million. Additionally, the Section 179 cap will be indexed to inflation in $10,000 increments in future years.
50% Bonus Depreciation will be extended through 2019. Businesses of all sizes will be able to depreciate 50 percent of the cost of equipment acquired and put in service during 2015, 2016 and 2017. Then bonus depreciation will phase down to 40 percent in 2018 and 30 percent in 2019.
IMPORTANT THIS YEAR: Section 179 for Current 2017 Tax Year
Section 179 can provide you with significant tax relief for this 2017 tax year, but equipment and software must be financed and in place by midnight December 31, 2017.
Now is the perfect time to upgrade your antiquated communication system to make sureyou take advantage of these tax opportunities! VirtualTone offers financing for all equpiment, as well as activation costs and software. VirtualTone's fully hosted VoIP communication system will take your office productivity to the next level to set you up for success for the 2018 busines year!