Function4 Highlights Section 179 Tax Benefits for Office Technology Purchases
November 27th, 2023 by Function4
Leading Office Solutions Provider Urges Businesses to Act Before December 31st
SUGAR LAND, TX ‐ Function4, a leading office technology provider, is advising business owners to take advantage of the IRS Section 179 tax deduction for equipment purchases before the December 31st deadline. Section 179 allows accelerated depreciation on qualifying equipment, enabling businesses to deduct the full cost of eligible purchases made through the end of 2023.
"With Section 179, businesses can deduct the full cost of new office technology this tax year," said Bill Patsouras, Principal at Function4. "This benefit may not always be available, so we encourage businesses to take advantage now before it's too late.”
Under Section 179, businesses can deduct up to $1,160,000 in qualifying expenses, including copiers, printers, IT hardware, software, and more. While Function4 specializes in office technology solutions, their philosophy is to constantly share any piece of information they can with business owners that will give them an advantage.
“Our main goal is to help our peers maximize profits," Patsouras added. “Typically, we achieve that by equipping them with the right office technology; however, Section 179 is too important to overlook. We’re happy to share this tax tip. Planning purchases by December 31st lets companies leverage Section 179 for immediate tax relief.”
Function4 is not a tax advisory firm; however, the company is passionate about helping their fellow business owners to thrive. As always, Function4 recommends consulting with a qualified tax advisor to utilize Section 179 properly. With no guarantee this deduction will continue, now is the time for businesses to take action.
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