Tax Deduction Anyone?
News from GFI! Below is an email we received from one of our partners GFI:
"With recent changes to Section 179 of the U.S. Internal Revenue Code, companies that purchase less than $2 million in software and equipment in 2011 qualify to receive a tax deduction.
This year, businesses can:
» Write off the full purchase price of software and equipment purchases totaling less than $500,000
» Receive a substantial deduction on software and equipment purchases totaling more than $500,000
These tax deductions can be taken in full, rather than depreciated over multiple years, which most business owners prefer."
Just wanted to pass it along. Obviously we work in IT, not accounting, so we suggest asking your tax advisor about the specifics.
Update: The Upcoming Hard Drive Shortage
In our last newsletter we posted a tidbit of information regarding the flooding in Thailand and how this effecting many hard drive manufactures. In a recent article by TechCrunch, "Power was restored in the last week in some areas and Western Digital has just turned the lights back on at one of its factories there." But, they are still not able to open their remaining facilities.
What does this mean? Well, as we hinted last month, Western Digital is even now stating the lack of manufacturing facilities will begin to effect the retail cost of hard drives. Simple supply and demand. A good piece of information to keep in mind for the upcoming new year.
It has also been reported through various outlets that both Western Digital and Seagate are now slahing product warranties from three or five years to one year in order to control costs.
Here's a friendly reminder. The BBW office will be closed Monday, December 26th and will reopen Tuesday, December 27th during normal business hours. Happy Holidays!