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Year-End Tech & Tax Tips for Smart Small Businesses – MarketWatch
Black Friday and Cyber Monday Sales Combined with Historically High IRS Write-offs Make End of 2008 Ideal Time for Small Businesses to Invest in New Digital Technology
LONG BEACH, Calif., Nov 24, 2008 /PRNewswire via COMTEX/ — Successful small business owners are constantly balancing the need to invest in new productivity-enhancing technology with the impact on their bottom lines. But between now and the end of the year, with the help of two unrelated economic factors — increased IRS Section 179 deductions and the growing importance of “Black Friday” and “Cyber Monday” — the decision to purchase that new high-speed color printer, multimedia projector, high-speed document scanner or virtually any other tech product, may just be a little easier.
A change in the 2008 Federal Tax Code has resulted in historically high allowable write-offs of tangible property; property that generally includes that much needed printer, scanner or digital projector. Black Friday and Cyber Monday, the Friday and Monday immediately following Thanksgiving (this year November 28 and December 1), signal the kick-off by consumer electronic and office product retailers of their most aggressive marketing programs of the year. The combination of these two factors may result in small businesses being able to purchase new digital products at the very best prices of the year.
“Every small business owner I work with is looking to make every dollar invested payoff,” said Barry Drake, president, Drake Business Services, Inc., a San Jose, Calif.-based accounting firm. “Taking advantage of this year’s IRS Section 179 write-offs is generally a smart move, however, it’s only smart if its being used to purchase products that will help grow the company or help it operate more efficiently.”
Read the entire article at Year-End Tech & Tax Tips for Smart Small Businesses – MarketWatch