179 Tax Deduction 2013 | Deduct Your New Security System

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Did you know that in 2013 companies are allowed to deduct up to $500,000 worth of equipment used for business? That means now is the best time to purchase a new security camera system and invest into the future of your business! By purchasing a new surveillance system for business use, you could have that system deducted from your taxes until the end of 2013.

How Does The 179 Tax Deduction Work?

The best way to find out how section 179 tax deductions work is to review the following example.

John purchases a complete security camera system for 5 of his grocery store locations at $20,000 in 2013. By using the 179 tax deduction before the tax year ends in 2013 John will get $20,000 in tax write-offs.

Because John purchased the security system for his business he can completely write off this expense. If this purchase was used for less then 50% of the time for business then he could not write it off. The maximum amount that John can write off in 2013 is up to $500,000.

This IRS incentive has been created to help businesses to invest into themselves. The reason why this incentive was formed was to stimulate small businesses to produce more products and services, which in theory will boost the economy.

What Time Should I File For the 179 Tax Deduction?

In order to apply the section 179 tax deduction to your purchase you must file within 2013 or the year of purchase.

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For More Information Please Visit: Internal Revenue Service (IRS)

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