Investing in Your Business: A Tax Strategy
Jessica Sherwood
Omni Cubed
Photos Courtesy Dave Worrell
You can leverage a Section 179 tax deduction to benefit your whole crew and make installation or stone transport safer, easier and more efficient. |
Omni Cubed has a range of well-built, made-in-America products designed specifically to make installation safer and easier, like the Pro-Cart AT2, Aqua-Jaw™ and Sink Hole Saver™ Original transport clamps. |
Don’t miss out on a great opportunity to beef up your equipment arsenal and write off 100 percent of the cost!
With the Section 179 Deduction, you can deduct up to $500,000 (the limit for 2016) of equipment expenses on your business tax return — the only requirement is that the equipment is used for business purposes, of course.
According to Section179.org, the Section 179 IRS tax code allows businesses to deduct the full amount of the purchase price of equipment and supplies. The deduction is valid on most types of equipment, with very few exclusions (namely, HVAC and Real Property).
IRS Publication 946 gives this official introduction to the tax code:
You can elect to recover all or part of the cost of certain qualifying property, up to a limit, by deducting it in the year you place the property in service. This is the section 179 deduction. You can elect the section 179 deduction instead of recovering the cost by taking depreciation deductions.
In other words, instead of amortizing your deductions over the next several years, you can recover the cost right away with the current year’s tax returns.
So how can you leverage this opportunity to benefit your whole crew? By investing in tools and equipment that make this incredibly difficult job safer, easier, and more efficient.
It’s not all about the bottom line—show your team you care about their safety and well-being by investing in equipment that makes their job less strenuous and helps prevent injuries. Knowing your team is working safer and more efficiently is the real reward; getting to write-off the bill is just an added perk!
For more information on how Omni Cubed tools can help boost safety and efficiency, please visit www.omnicubed.com or call 800-575-4401 and ask your Braxton-Bragg representative.