Preston Office Solutions Informs Business Owners of New Section 179 Tax Deduction Limits for 2024
November 25th, 2024 by admin
Leading MTSP Encourages Companies to Maximize Profits with Updated Tax Code Benefits
ST. GEORGE, UT – Preston Office Solutions, a leading managed technology services provider, is encouraging business owners to take advantage of the IRS Section 179 tax deduction, which provides significant savings on capital expenditures for 2024. This year, businesses can deduct up to $1,220,000 on qualifying equipment purchases, including copiers, printers, IT infrastructure, managed software, cybersecurity solutions, phone systems, surveillance systems, and other essential business tools.
How Section 179 Works
Under the Section 179 deduction, businesses can depreciate 100% of the cost of eligible equipment bought or financed, provided it's put into service before December 31, 2024. While Preston Office Solutions does not offer financial advice, they did want to inform business owners to consult with their CPA to ensure they don't miss this opportunity to increase their profits before the end of the year.
An Incredible Opportunity
Richard Preston, President/CEO at Preston Office Solutions, stated, "Section 179 is an incredible opportunity for businesses looking to invest in their future. With political uncertainty surrounding tax policies in the coming years, it's essential for companies to capitalize on this deduction while it's available. We're committed to sharing information that can help businesses thrive. Whether or not a company chooses to work with us for office technology needs, we feel a duty to help our fellow business owners thrive by sharing information, resources, expertise or any other value we can offer."
Planning Ahead Pays Off
Preston emphasized that many businesses often delay capital investments until the end of the year, but Section 179 rewards those who plan ahead and reinvest in their operations. "While everyone is focused on finishing the year strong, it's worth taking a moment to assess which projects and upgrades can be made now to take advantage of this tax code," he added. "This deduction can instantly boost profitability by reducing tax liabilities, making it an easy win."
Simplifying Technology and Improving Profitability
Preston Office Solutions's core mission is to simplify technology and improve profitability for its clients, and sharing this tax benefit aligns with that goal. "We strive to help our customers boost their profits in any way we can, usually through technology, but in this case, it's a simple financial strategy," said Preston. "Business owners have enough on their plates. By taking a moment to plan for the future, they could see significant tax savings."
About Preston Office Solutions
Preston Office Solutions, St. George, Utah, has provided exceptional sales, service, and support for office multifunction printers and large-format printing products to Southern Utah and our neighbors in Southern Nevada for 40+ years. We aim to provide distinctive quality and unparalleled service, earning trust and respect from our customers, suppliers, and partners. Preston Office Solutions offers extensive technology solutions and assistance to ensure our clients remain successful. Preston Office Solutions is a reliable IT provider. Our commitment to excellence and customer satisfaction contributes to your continued success and growth in the industry. We offer a robust array of technology products and services.
To learn more please contact Preston Office Solutions at 435-628-2997 or visit www.prestonoffice.com.
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