Skip to main content
BusinessManaged IT Services BostonManaged IT Services ProvidenceManaged IT Services Rhode IslandManaged IT SolutionsManaged IT SupportTechnologyUncategorized

A Guide to Purchasing Technology using Section 179

Jenn GervaisOctober 2, 2024November 8th, 2024

Maximizing Business Savings with Tax Incentives for 2024:

As we near the end of 2024, businesses are seeking ways to optimize their tax strategies and reinvest. One effective strategy is the Section 179 tax deduction, which helps lower tax liability for equipment and software purchases. Now is the perfect time to upgrade your computer systems, cybersecurity, or other critical technology.

What is Section 179?

Section 179 allows businesses to deduct the full purchase price of qualifying equipment and software bought in the tax year. Instead of spreading deductions through depreciation, you can write off the entire cost upfront. This reduces taxable income and boosts year-end savings. (Read more here)

For 2024, businesses can deduct up to $1,220,000 in purchases with a spending cap of $3,050,000. After this threshold, the deduction phases out dollar-for-dollar.

Why Now is the Time to Invest in Technology and Computer Equipment

Technology is evolving quickly, and 2024 is a great time to upgrade. Section 179 can offset the cost of essential upgrades that improve efficiency, security, and productivity.

1. Enhance Cybersecurity and Compliance

Cybersecurity threats are growing. Use Section 179 to invest in Managed Detection and Response (MDR), firewalls, and MFA (Multi-Factor Authentication) solutions. Strengthen your cybersecurity while benefiting from the full tax deduction.

2. Upgrade Computer Systems and Networking Equipment

Section 179 covers desktops, laptops, servers, routers, and more. Replace outdated systems to boost productivity with Windows 11 workstations or improved networking tools.

3. Support Remote and Hybrid Work Models

This great tax incentive offsets the costs of work-from-home technology like laptops, webcams, Microsoft Teams, and secure VPN systems. Keep employees connected and secure while enjoying tax savings.

4. Boost Operational Efficiency with New Software

Off-the-shelf software also qualifies under Section 179. Invest in accounting software, CRM platforms, or cloud solutions to increase agility while benefiting from the tax break.

5. Future-Proof Your Business with AI and Automation Tools

Leverage AI and automation tools, including cybersecurity and customer support systems. Tax incentives make it easier to adopt these cutting-edge technologies.

Key Takeaways for Businesses in 2024

  • Qualifying equipment and software purchases: Deduct servers, laptops, desktops, tablets, and other business equipment under Section 179.
  • Bonus Depreciation: Businesses can deduct 80% of equipment costs that exceed Section 179 limits.
  • Equipment must be in use by year’s end: Purchased equipment must be operational by December 31, 2024, to qualify.

How Braver Technology Solutions Can Help

Braver Technology offers Managed IT Services, custom app development, and consulting to help you maximize your Section 179 benefits. Whether you’re upgrading cybersecurity or IT infrastructure, our team can guide you through strategic technology investments.

Contact us today to discuss how we can help you leverage Tax incentives for IT purchases that boost security, efficiency, and savings. Don’t wait! Plan your investments now to take full advantage of 2024 tax incentives.

#WeMakeITWork

Braver Technology Solutions | WeMakeITWork@BraverTechnology.com
Boston: 617.315.8515 | Taunton: 508.824.2260 | Providence: 401.484.7900

Jenn Gervais

Jenn Gervais

Jenn Gervais is the Marketing Manager at Braver Technology, driving marketing strategies and brand growth. With over 14 years of IT administration experience, she provides expert guidance to clients while leveraging her skills in marketing, design, and business development. Jenn’s creativity and leadership help fuel Braver’s innovation and success.