Your technology might not have an expiration date but, like a bruised banana, it often shows indications of wear and tear. It’s not uncommon for organizations to try to extend their computer lifespan, but they’ll end up being disappointed when older systems “suddenly” quit working. In fact, these older systems cost you more in downtime than it would cost to buy brand-new devices.

So, when do you need to update your devices?

Computers– Every 3 to 5 years
Other Tech (including printers and switches)– Every 2 to 6 years
Company Vehicles– Every 6 to 10 years

What if we said you have the ability to make your upgrades right now and can subtract the full amount of your purchases this tax season? Well, it’s true! Section 179 of the US Tax Code permits you to subtract the complete price of any qualifying equipment or applications bought or rented during the year, including:
Bought, financed or rented equipment
Desktops, laptops, tablets, smartphones
Servers, printers, routers, network security devices
Off-the-shelf applications (productivity, administrative, anti-virus, operating systems, etc.)

All you need to do is use form 4562 to claim your deduction. The full deduction can be declared till you’ve reached $2M in equipment and software purchases. Past that point, the deduction reduces on a dollar-for-dollar basis. You just need to make certain the equipment and applications are put into use by December 31, 2017.

With Section 179, your company has the opportunity to leverage brand-new equipment right now instead of waiting and possibly slowing down growth and innovation. For more details about Section 179 or if you require assistance starting, contact us to request your free, no-obligation Section 179 assessment.