Time is Running Out on Tax Benefits! The Time is right for investing in technology!
Make your technology investments before the clock strikes 2014! Business taxpayers stand to have substantially less ability to expense large purchases, as the 50% bonus depreciation provision lapses on 12/31/13, while the maximum limit for the section 179 deduction drops from $500,000 to $25,000. Also eliminated is the $8,000 first-year bonus depreciation on new vehicle purchases.
We are into a big technology replacement cycle as many firms recognize it is time to replace old server and workstation hardware, and upgrade business applications. There are substantial increases to be had in workplace productivity from greater system performance and new editions of MS Office, MS SQL, MS Windows, etc.. Expiring tax benefits created added urgency to invest!
You should rely on your accountant for actual tax advise!!