Did you know that buying a new truck, investing in state-of-the-art industry-specific software by Tribute, Inc., or upgrading your server can create cash flow?
Jay Goltz, in his article for the NY Times Small Business blog, You’re The Boss, details how an investment in new equipment or upgraded technology can benefit your company by utilizing the Section 179 tax benefit this year.
Section 179 lets businesses deduct the full price of any qualified property purchases immediately (up to $250,000 a year). Without this provision, the purchases would have to be depreciated over a number of years, typically five to seven. Goltz says, “Section 179 is not news, but I’m not sure all business owners realize how useful it can be right now — if your company needs equipment and if it will turn a profit this year.”
Goltz makes the case that investing in new equipment and technology not only gives you the equipment you need, it creates additional cash flow as well. Click here for the full article.
Jay Goltz, whose companies employ more than 100 people and produce more than $13 million in revenue, offers insights and perspective on running a small business in the NY Times Small Business blog, You’re The Boss.