It’s a race against time! With 2012 coming to a close, NOW is the time for child care businesses to acquire new or used capital equipment that qualifies under Section 179. What’s Section 179? It allows companies to write off the purchase price of qualifying equipment that is bought and put into use before the end of the year. And these generous tax deductions will NOT be here in 2013.
You can deduct up to $139,000 of eligible business property, rather than depreciating the asset over several years. On January 1, 2013, the max deduction is decreasing from $139,000 to $25,000. What qualifies? Office equipment, vehicles, computers, machinery, sanitizing equipment, and (I believe) playground and kitchen equipment all qualify. Check with your accountant to be sure.
So take advantage of this special tax rule by the end of the year, and focus on investments that will give YOUR program a competitive advantage in the market.
For more information on the resources mentioned in the video:
Section 179 Calculator: www.crestcapital.com/tax_deduction_calculator
ZONO Sanitech System: www.zonosanitech.com
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