Point of Sale System Tax Deduction 2014
Section 179 of the United States tax code allows you to deduct the purchase price of POS System equipment that is used for business. The purpose of this section of the tax code is to encourage entrepreneurs to upgrade their existing technology.
The limit set for the Section 179 is $25'000 as of January 1st 2014. In previous years the limit for such deduction has been as high as $500'000, so this is quite a significant drop. However, even with our Congress “friendliness” to small businesses it is still a great opportunity to purchase a new point of sale system or upgrade your existing one.
Basically, in order to qualify for Section 179 you need to buy or finance $25'000 worth of equipment and put it to business use in 2014. Though $25'000 doesn't sound like a lot of money, we can set up you with a basic point of sale system for less than 10% of this amount. So that, you are still left with more than $20'000 for other equipment purchases.
This is a great opportunity to actually purchase or finance your point of sale system instead of going with “pay as you go” or “software as service” model.
You can check out our bundles and products for prices or call us for more information.