The Tax Cuts and Jobs Act of 2017 has a few additions and improvements that can help businesses attain the equipment they need. Bonus depreciation means you don’t have to write the purchase off over the next few years due to depreciation. You can write 100% of the costs of new equipment off for the current tax year. Of course other equipment may apply, but being that we sell computer, networking and server equipment, this is where we can help.
Part of your on-going physical technology infrastructure will always include:
A lot of companies are not currently using a replacement cycle for aging hardware. All equipment has an usable life and then starts degrading or begins creating problems. Ideally you will replace the hardware before problems start occurring but unfortunately, many companies wait until items fail instead. This creates downtime and in most cases, lost revenue, or sunk costs. Why are we telling you this? Because the Tax Cuts and Jobs act allows you to buy equipment and write it off up to 100% of the costs up to $1mm. Keep your equipment up to date, keep your employees happy with fast machines and fast highly functional network.
Every business should be using tax breaks to it’s benefit, especially when it includes getting the equipment your business needs to thrive. As always, ask your accountant and do your own research about how this applies to your business.
Disclaimer: We are of course NOT accountants and suggest you always talk with your accountant or CPA professional about your business and anything accounting related and what may or may not apply to you.