{"id":6177,"date":"2022-12-02T22:10:19","date_gmt":"2022-12-03T05:10:19","guid":{"rendered":"https:\/\/clikcloud.com\/?p=7676"},"modified":"2022-12-02T23:25:11","modified_gmt":"2022-12-03T06:25:11","slug":"whats-on-your-holiday-tech-wish-list","status":"publish","type":"post","link":"https:\/\/clikcloud.net\/3gtelco\/whats-on-your-holiday-tech-wish-list\/","title":{"rendered":"What\u2019s On Your Holiday Tech Wish List?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">What if you could deduct technological expenses, reducing your taxes and availing your business of new technology?\u00a0 According to the IRS, you can deduct a portion of your tax expense for products (sometimes even services) if you deploy the tech in the current tax year. Read on to learn more about defraying expenses and even gaining a competitive advantage, too.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Tax Deductions for Technology Purchases<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Your company may be considering what technological purchases to make in the near future. What if you could get the technology assets you need, while lightening your tax bill? According to the IRS tax <\/span><a href=\"https:\/\/www.irs.gov\/newsroom\/irs-issues-guidance-on-section-179-expenses-and-section-168g-depreciation-under-tax-cuts-and-jobs-act\"><span style=\"font-weight: 400;\">code<\/span><\/a><span style=\"font-weight: 400;\">, Section 179, small to medium-sized businesses can deduct the entire purchase price of both new and used equipment from what they pay in taxes. To be eligible, the business must meet any one of three requirements. The business must be in operation, or set to start operating, and have purchased IT assets throughout the year. Types of purchases to which the deduction applies are on-premise improvements like security systems and security systems; devices like computers and laptops, tablets and phones; and software, servers and networking equipment. A business must earn no more than $2.5 million annually, as well as deploy the technology within the same tax year as purchased. Equipment purchases arising from an IT services contract can be deducted, but not the service itself.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Business Benefits and Considerations<\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Who doesn\u2019t want to pay less in taxes? Aside from this obvious benefit, the budgetary burden for purchasing even new equipment is lightened. Your company can perhaps even launch a new initiative like unified communications (allowing your company to be even more effective) while paying less for the equipment. That said, to get the deduction your company needs to deploy the equipment in the current year. What purchases can you make that will help reach business goals? Whatever technology you invest in, it needs to be in line with your objectives.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Now is the time for considering your tech budget, and what purchases you plan to make. For further assistance, contact your trusted technology advisor today.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What if you could deduct technological expenses, reducing your taxes and availing your business of new technology?&nbsp; According to the IRS, you can deduct a portion of your tax expense for products (sometimes even services) if you deploy the tech in the current tax year. Read on to learn more about defraying expenses and even gaining a competitive advantage, too.<\/p>\n","protected":false},"author":1,"featured_media":6179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,234,100,235],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What\u2019s On Your Holiday Tech Wish List?<\/title>\n<meta name=\"description\" content=\"What if you could deduct technological expenses, reducing your taxes and availing your business of new technology?&nbsp; According to the IRS, you can deduct a portion of your tax expense for products (sometimes even services) if you deploy the tech in the current tax year. 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