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.”