Take Advantage Of Tax Savings | Buy Now For 2024 Tax Deductions

Have you ever heard of Section 179 of the Tax Code?? 179 Can Help Your Business Save Big!
Section 179 of the U.S. Internal Revenue Code offers businesses a fantastic opportunity: deduct the full purchase price of qualifying equipment, software, and furniture purchased or financed during the tax year. Instead of spreading the cost over several years, you can take the deduction immediately—freeing up resources for growth and reinvestment.
Here’s What You Need to Know:
✅ Deduction Limit:
For 2024, businesses can deduct up to $1,160,000 of qualifying property, with the deduction phasing out after $2,890,000 in total purchases.
✅ Office Furniture Qualifies:
Both new and refurbished furniture are eligible—perfect for outfitting or upgrading your workspace.
✅ Act Before 12/31/2024:
Orders placed before the end of the year can qualify, whether paid in cash or financed. Some businesses even defer payments until 2025 while still taking the tax benefits for 2024!
✅ Usage Requirements:
Must be placed into service during 2024.
✅ Bonus Depreciation:
If you exceed the Section 179 limit, bonus depreciation (80% in 2024) can provide additional savings for both new and used property.
Real Savings Example:
If a company invests $1,000,000 in office furniture: They can deduct the entire $1,000,000 in 2024.
This immediate deduction significantly reduces taxable income, enabling businesses to save big.
For small and medium-sized businesses, this is a game-changer. Now is the time to plan ahead, refresh your office, and make the most of this tax incentive!
Have questions or need help outfitting your space? Let’s connect—I’d love to help your business take full advantage of this opportunity!