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Lighting Up: New & Cutting Edge Sublimation Ink
October 11th: 1pm-2pm Eastern (5pm-6pm GMT) | REGISTER NOW >>
Ever wonder how to Sublimate with Fluorescent and UV Visible Inks? Well, cutting-edge sublimation technology for the Epson 4880 has yielded these two new ink options. Fluorescent opens up a range of new applications from eye-catching signage to safety apparel, where as Black Light Blue (UV visible) is the perfect solution for the brand security industry and even has opportunities for the novelty market. During this live webinar learn how these new inks are applied and how you can harness the power of creativity to generate new profits with new applications.
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IRS Section 179 Means More Money In Your Pocket
Use It Or Lose It
Taking Advantage Of The Section 179 Deduction
Most of us prefer to wait until the last minute when it comes to income taxes, as if putting off the process will make it go away. In reality, it may pay to start planning right now in order to take full advantage of any benefits that can be derived by taking certain actions before the end of the year. Once January 1st rolls around, you may have lost a perfect opportunity to cut your tax bill and maybe even put some extra money in your pocket. A great example is the Section 179 deduction.
This sample calculation presents a potential tax scenario based on typical assumptions.
| Equipment or Software Cost | $2,500 |
| Total First Year Deduction | $2,500 |
| Cash Savings on your Equipment or Software Purchase (assuming a 35% tax bracket) | $875 |
| *Cost After Cash Savings | $1,625 |
Obviously, there are some guidelines as to what type of purchases qualify, but for a typical decoration business most of your equipment should be eligible for the deduction. Here are some general examples:
- Equipment (machines, etc) purchased for business use
- Tangible personal property used in business
- Business Vehicles with a gross vehicle weight in excess of 6,000 lbs
- Computers, Computer Software
- Office Furniture, Office Equipment
- Property attached to your building that is not a structural component of the building (i.e.: a printing press, large manufacturing tools and equipment)
- Partial Business Use (equipment that is purchased for business use and personal use – generally, your deduction will be based on the percentage of time you use the equipment for business purposes.)
The key is to act now to ensure that you can take full advantage of the tax benefits of Section 179. If you are considering any major equipment purchases for 2012, it might make better financial sense to try and move the transaction up in order to qualify for 2011.
To learn more about Section 179, visit http://www.irs.gov/businesses/small/article/0,,id=213666,00.html and discuss with your Accountant – TODAY!
If you don’t use it by 12/31/2011, you will lose it!
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