What is Section 179?
Section 179 Deduction is part of The Small Business Jobs and Credits Act of 2010 that helps Small and medium business owners to deduct the full purchase of hardware or software cost from the gross income. It’s direct saving and cash in hand. Section 179 deduction is to help small and medium business owners with cash in hand and tax savings to buy more and invest in business.
How Much Will You Save? Tax Calculator
If you buy ManageEngine Software( ManageEngine has no custom code )for $50,000, you get an instant cash savings on software purchase of $17,500 and that leaves the cost after Tax savings at $32,500. (Assuming that you are at 35% tax bracket)
Check how much you will save with the Tax Deduction Calculator
It’s Valid For Off-the-shelf software with No Custom Code
Here are some general specifications (oxy-moron!)
- The software must be financed (only specific type leases or loans qualify), or must be purchased outright by you.
- The software must be used in your business or income-producing activity.
- The software must have a determinable useful life.
- The software must be expected to last more than one year.
In addition, these three specific stipulations must be meet:
- The software must be readily available for purchase by the general public.
- The software must be subject to a non-exclusive license.
- The software must not have been substantially modified.
source: www.section179.org
Section 179 Is Valid Till Dec 31, 2010. Act Now
You got 10 days totally, that is just 5 days if you are planning to break-off for holidays. Rush now, call, email, get us to call you. Do whatever but don’t miss this.
Call +1 888 720 9500 / +1-925-924-9500
Email: sales@manageengine.com
(I generally give my personal email but now we don’t have the luxury of time. There is a focused task force set to help you)
Disclaimer: This is a not a tax advice and I am not a tax advisor. I am trying to break-down Section 179 Deduction of IRS Tax code according to my own understanding so that you take advantage of it in the last 10 days (5 days if you are breaking for holidays). You must consult with a professional tax advisor regarding your specific situation. And, this is whole thing is specific for USA only (just in case)
