If your business is looking to invest in new or refurbished print equipment, there’s no better time than now! Thanks to Section 179 of the IRS tax code, you can deduct the full cost price of eligible equipment. This includes items like printers and plotters. You can do this in the year you buy (or lease) and put it into service. This means significant tax savings and more cash to reinvest in your business. This incentive, created by the U.S. government, encourages businesses to buy equipment and invest in their growth. For detailed information on Section 179, visit https://Section179.org.
Understanding Section 179
For 2024, the deduction limit is a significant $1,220,000, and the equipment can be new or financed. For example, buying a $15,000 printer can lower your taxable income by that full amount. This reduction effectively brings your equipment’s cost down to $9,750.00 after tax savings—putting over $5,250.00 back into your business.
How Section 179 Saves You Money
- Immediate Savings: The full deduction applies in the year of purchase, allowing for quick financial benefits.
- Flexibility: You can choose to buy or lease, depending on what fits your business model best.
Why Choose Eastern Engineering Supply for Your Print Equipment?
- Top-Quality Products: We offer printers and plotters that qualify for the Section 179 deduction. This ensures you get the best value for your investment.
- Flexible Financing: We provide leasing or purchase options to make it easier for you to invest now and save big.
- Ongoing Support: Our trusted service and maintenance support ensure your equipment stays in top condition long after your purchase.
Explore Our Comprehensive Product Range
We are your one-stop shop for office printers, scanners, and large-format printers/plotters. Our extensive collection includes industry-leading brands like Xerox, Epson, Brother, Canon, Hewlett Packard, KIP, and Widetek.
Whatever your printing and scanning equipment needs, we provide high-quality products to meet your demands. Check out our product range here comprehensive product range here.
But remember, to take advantage of Section 179, your equipment must be purchased and in service by December 31, 2024. Don’t miss out on these savings. Contact Eastern Engineering Supply today. Explore your options and save on your new printing equipment!
Note: Always consult with your financial advisor or tax consultant. They can guide you before making decisions that may impact your business’s tax obligations. Always consider their advice regarding your financial situation. Your financial advisor or tax consultant can provide advice based on your specific circumstances.