With 2021 going out surprisingly strong, owners of expanding businesses welcome the news of generous year-end tax deductions. With Section 179 2021 offering significant tax relief, small businesses can end the year with an investment in modernized technology to continue the growth in 2022. But, due to potential supply chain shortages, you should order now to complete the transaction before year end.
The Tax Cuts and Jobs Act, which took effect in 2018, introduced some eye-popping adjustments to Section 179. Combined with bonus depreciation, they put more money into your business investment budget. These changes include the following:
That means that you take the full depreciation in the first year, instead of spreading it out over several years. While bonus depreciation only applied to new equipment in the past, it now also applies to used equipment.
For example, a business takes advantage of the opportunity to replace aging computers and install modern video conferencing technology. With qualifying expenses totaling $1.25 million, the business qualifies for the $1,050,000 deduction. It then takes the bonus depreciation for the remaining $200,000. In the current 21% percent small business tax rate for corporations, the investment gains $262,500 in tax write-offs.
With the December 31 deadline fast approaching and the current supply chain shortages, now is the time to start making strategic technology investments. For instance, you might upgrade remote worker productivity and cybersecurity to grow faster and protect business data. Or you can take the opportunity to reconfigure some areas for hybrid workspace.
Remote Work Solutions – With many employees still working from home, select from a broad portfolio of certified Yealink Voice and Video Device Solutions for Microsoft Teams.
Desktop Computers – Opt for high power in a small package with the HP Z2 Mini G5. Alternatively, architects and other creative professionals will power their dreams with the all-in-one Microsoft Surface Studio 2.
Business Laptops – Consider the lightweight yet powerful HP EliteBook x360. Or choose the graphics capabilities and performance of the Microsoft Surface Book 3.
Count on the modern technology expertise at eMazzanti to maximize the tax savings available from Section 179 2021. They’ll guide you through the hardware and software options available and help to forecast your future technology needs.
With twenty years’ experience supporting customers through crises a variety of crises, eMazzanti’s business technology experts anticipate bumps in the road. Having a strong balance sheet, they have stockpiled in-demand hardware to provide excellent service for customers. With an inventory of printing supplies, laptops, desktop computers and more, they can provide same-day delivery to many clients.
For more information and availability, contact one of our Section 179 technology specialists today to begin the process.
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Carl Mazzanti is the president of eMazzanti Technologies in Hoboken. You engage with vendors…