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You can even deduct your technology expenses from up to five years ago, provided that you are using it for business purposes more than 50% of the time.
The Section 179 website offers a great tax deduction calculator for your business: Click here to see it. For example, if you paid $300,000 dollars in equipment and software, you can claim the entire dollar amount on your taxes and save $105,000.
Find your receipts for any of the items listed below, and try the calculator to see how much money you might be saving on your2014 taxes.
This business tax deductions list is designed to encourage small and medium sized businesses to invest in capital and stimulate the economy. Large enterprises that are able to pay more than $2,000,000 in capital get a smaller deduction based on the remaining amounts over the $500,000 limit.
Is your IT infrastructure outdated? Maybe it’s time for you to consider different technology solutions that can optimize the way you work, while saving your business money in the long run.
Let your new technology this year be part of your business tax deductions list next year. Contact Centre Technologies today and learn more about the IT solutions we can offer your business.
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