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Save on software in 2019 with Section 179

section 179
What could be better than ending the year
by saving money on new software?

With 2020 just weeks away, it’s easy to become so distracted by year-end processing that you overlook an opportunity to increase your 2019 bottom line. If you make ERP software and equipment purchases before December 31st, the Section 179 Deduction is designed to help put money back in your pocket.

What is the Section 179 Deduction?
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment or software, you can deduct the purchase price from your gross income. It’s an incentive created to reward businesses who invest in themselves.

By opting to not use the deduction, companies have to amortize the write-off over the useful life of the purchased asset. However, using the Section 179 Deduction decreases your Federal Income Tax for 2019, saving your business money this year!

How much money?
It depends on what you claim, but the deduction limit stands at $1,000,000 for software investments made in 2019.

So, if you’re ready to improve your business with comprehensive Cloud or On-Premise ERP-ONE+ distribution software with tools like wireless warehousing, mobile applications, and supplemental E-Commerce, now is the time! Remember: purchases must be made by December 31, 2019.

Have questions? Visit the official Section 179 website and speak with your accountant or tax professional. Distribution One is also here to help! Contact us today at info@distone.com to take advantage of this beneficial tax deduction.

 

“Out of the gate, our first cost savings occurred in accounting. What was previously a full-time job went down to just 2 hours a day. This change alone saved us $40,000 in year-over-year labor costs.”

— General Manager, Empire Bolt & Screw
Read the complete case study here.

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