Tax advantages for buying tech equipment this year

With less than 3 months remaining in 2004, there are tax benefits that may impact your buying decisions.

Law firms can deduct the purchase price of technology equipment acquired for use in 2004.
Amended IRC Section 179 provides for a new limitation of $100,000 instead of the old limitation of $25,000. This provision also applies to off-the-shelf software. The opportunity is limited to 2004, while reverting back to the old limits after this year.

Check with your tax adviser or the Internal Revenue Service for more details.

Categorized in: Cash Flow - Finances