At WARDJet, we’re interested in the success of your business, no matter how big or small it may be. There are new tax changes for 2011 that might be just what your business needs. Below, we outline those changes and what it means for your business.
The passing of the Tax Relief Act of 2011 has provided many new opportunities for businesses both large and small to improve while lessening the tax burden for the year. The largest change of this credit is an increase in the amount that can be deducted on equipment purchased for your business. The base deduction has been increased from $25,000 to $500,000. In addition, the total amount of equipment that can be purchased was increased from $200,000 to $2 million. This new limit applies not only to new and used capital equipment, but to software as well.
Even more important than these limit increases, is the increase in Bonus Depreciation. This special depreciation allowance allows you to claim 100% depreciation on new equipment purchased and put into use in 2011. In other words, you can deduct the entire cost of any new equipment or software as long as you have it up and running on your floor by the end of the year.
If you’ve been thinking about getting a waterjet system for your business or replacing your old system, now is the time. WARDJet is committed to providing you with everything you need to take advantage of these time-sensitive credits. While we will do everything we can to help, the sooner you act the better. Don’t get left out of the credit and miss the chance to improve your business. Why not beat the end of the year rush and contact us today to begin designing the best waterjet system to fit your business needs?
-Benjie Massara and the WARDJet Team
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