Business Technology Experts

Helping Businesses Deduct Up To 1 Million Dollars on Qualifying Equipment Expenses

November 18th, 2020 by admin

A man drawing an arrow declining downwards with a red marker on a chart that says 'costs'

ANN ARBOR, MI – UTEC a leading managed technology services provider (MTSP), announced today that it is helping customers take advantage of a substantial tax deduction, outlined by guidance issued from the IRS, also known as Section 179. Section 179 allows businesses to completely deduct the purchase price of qualifying equipment and/or software purchased or leased during the 2020 tax year. However, the technology or equipment must be operational by the end of the calendar year, December 31, 2020, and with the deadline fast-approaching businesses must leverage its benefits quickly.

UTEC is advising its clients about this tax-benefit in order to help businesses cope with the unforeseen and often sizable expenses the pandemic has forced upon them. This comes at a time when many small to mid-sized businesses (SMBs) are searching for ways to restructure their operations to accommodate for remote workplaces, work-from-home scenarios and/or hybrid-offices, and have discovered how important security is to make this transition happen. As business owners have done their best to comply with mandatory work-from-home policies, there are often significant costs in making these transitions work. UTEC is doing its part to keep the business community informed on how they can reduce their tax liability and weather the storm.

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