Tax Deductions: Writing Off Major Purchases for 2020
Managing a business this year has had its unique challenges, to say the least. But some things remain a constant. And that includes the IRS Section 179 tax deduction for the cost of tangible equipment. As a disclaimer, we are not tax advisors. Any planning or decisions should be reviewed or undertaken by your company’s CFO or accounting professionals. If you and your staff are still working from home, even just part of the time, you should seriously consider improvements to your technology infrastructure. Look at this as an overview to motivate you to take advantage of this law. What Are Section 179 Tax Deductions? When we talk about 179 deductions, these are the classic “write-offs,” but with an extra benefit. With many write-offs, youRead Full Article