What is Section 179?
Section 179 of the IRS tax code allows businesses to deduct the full purchase of qualifying equipment and/or software purchased or financed during the 2017 tax year. That means if you buy a piece of qualifying equipment or software, you can deduct the full purchase price from your gross income.
Does SOLIDWORKS Software Qualify? Yes.
For basic eligibility, software must meet all the following general specifications:
– The software must be financed or purchased outright.
– The software must be used in your business or income-producing activity.
– The software must have a determinable useful life.
– The software must be expected to last more than one year.
Section 179 Has Been RAISED TO $500,000!
- This means that you can buy (or finance) SOLIDWORKS and deduct the Full Purchase Price (up to $500,000) from your gross income.
What Does This Mean for You?
- If you buy or finance SOLIDWORKS software, you can deduct the Full Amount of the Equipment (up to $500,000) without paying the full amount this year.
- In fact, the amount you save in taxes could be greater than what you pay for the software.
If you are thinking of purchasing SOLIDWORKS, now is the time to take advantage of the tax benefits and our YEAR-END SALES EVENT!
IMPORTANT: Check with your tax accountant regarding Section 179 for any questions you may have, or you can visit www.section179.org.