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Cameras, computers or taxes? Section 179 Deduction for Businesses

Here in the US, if you’re a small business, you can buy gear for your business and write if off 100% (federal) under Section 179 of the Internal Revenue Code.

This year, that applies up to about $500K (not a limit for me!). Be sure to ask your tax advisor about “section 179" — how about writing off the entire cost of the equipment for 2010, instead of 20% over five years. Consult your tax advisor here, I am not giving tax advice, just mentioning the topic for your own investigation. You have until Dec 31, 2010. Sate tax laws vary, but here in CA, one must still depreciate for state tax purposes.

So if you’re planning on buying a Mac Pro or buying a MacBook Pro, now’s the time for this year’s taxes, and check out the MPG Pro Workstation and MPG Pro Laptop upgrade programs too, but don’t wait till after Christmas, too little time to execute.

And thank you for buying your stuff through my links.

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