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Afinety Support Alert
Alert Issue:
IRS Section 179 - Big Changes for 2014
 

Under IRS Section 179,  the accelerated depreciation deduction allowance permitted is $500,000 for 2013.  This means up to $500,000 in qualifying equipment, including hardware and software, can be expensed this year if it is placed into service by December 31, 2013.  This $500,000 limit expires at the end of 2013 and will be reduced to $25,000 as of January 1, 2014.  This lower limit significantly reduces the tax savings associated with the use of the Section 179 deduction.  

  

Action Needed:

If your firm is seeking to acquire equipment, you should strongly consider doing so in 2013 for the greatest tax benefit. Please consult your tax advisor for details.
 
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