How to Write Off your New Infor SyteLine ERP Solution on your Taxes! Tax Savings on Enterprise Software and Hardware using Section 179

Have you heard about end-of-year tax savings on equipment and technology/software purchases? Section 179 of the IRS tax code allows businesses to deduct potentially the full purchase price of qualifying software and/or qualifying equipment -- printers, servers, hard drives, plasma screens, tablets, mobile devices, network switches, etc. The software or hardware must be purchased and implemented during the tax year.

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What you need to know about Section 179: 

  • If you buy or lease qualifying software/equipment, you can deduct potentially the full purchase price from your gross income (assets must be put into service between January 1, 2012 and December 31, 2012, for example).
  • Allows for $139,000 to be fully deducted from current tax year income rather than being depreciated over several years (at the time of this post).
  • Total spending must not exceed $560,000 (at the time of this post).

Many of you reading have a vested interest in these important tax savings and Godlan is here to assist with the ERP and consulting needs of today's manufacturers.

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