We know every dollar saved when running a business is critical in any economy. Below is information on how your PawnMaster pawn management software and hardware purchases from PawnMaster can be used as tax credit for 2012. Please be sure to share this information with your Accountant.
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy or lease a piece of qualifying equipment, you can deduct the full purchase price from your gross income. It's an incentive created by the U.S. government to encourage small businesses to buy equipment and invest in themselves.
All businesses that purchase, finance, and/or lease less than $560,000 in new or used business equipment during tax year 2012 should qualify for the Section 179 Deduction. If a business is unprofitable in 2012, and has no taxable income to use the deduction, that business can elect to use 50% Bonus Depreciation and carry-forward to a year when the business is profitable.
You can learn more by visiting the http://www.section179.org/.
We hope this information helps! If you need items to purchase so you can utilize this tax relief please give one of our qualified industry specialists a call today 888-949-7296.