BIG Tax savings on seating purchases!!!

WOW! Check this out!! The US Government is going to pay nearly a third of your seating and furniture costs!! Ask your accountant and spend more money on seating!! $$$$$$$$$

Tax & Financial Benefits of Purchasing Office Furniture in 2011

Two US congressional acts passed late last year affect Section 179 of the IRS tax code that will allow businesses to deduct the full purchase price of qualifying equipment (including office furniture) and software purchased or financed during the tax year. That means that if a business buys (or leases) a piece of qualifying equipment, they can deduct the full purchase price from their gross income.

Section 179 for 2011 at a glance:
• 2011 Deduction Limit - $500,000 (up from $250k previously). Good on new and used equipment, including office furniture and new software.
• 2011 Limit on equipment purchases - $2 Million Dollars (up from $800k previously).
• “Bonus” Depreciation - 100% (taken after the $500k deduction limit is reached). Note: bonus depreciation is only for new equipment. This can also be taken by businesses that exceed $2 million in capital equipment purchases.

NOTE:

To qualify for the Section 179 Deduction, the equipment must be purchased and put into use between January 1, 2011 and December 31, 2011. For details, go to www.section179.org.