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U.S. tax break: Up to $2 million of corporate software deductible

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9:01 CET on the 14th February 2011
Entry written by Secunia.

Software is now tax deductible for U.S. companies.

In 2011 the U.S. Government has increased the limits for depreciation of software purchases – an incentive to encourage businesses to buy software and invest in themselves.

Section 179 of the IRS tax code allows corporate software purchases of up to $2 million to be 100% tax deductible in the year that the qualifying software is purchased, financed, and put into service. The full purchase price can be deducted from your gross income.

Now there is a double benefit – get protected against vulnerabilities AND save money!

A brief overview of Section 179 for 2011:

  • 2011 Deduction Limit - $500,000 (up from $250k previously). Ideal for new software, and new or used equipment
  • 2011 Limit on purchases - $2 million (up from $800k previously)
  • "Bonus" Depreciation - 100% (taken after the $500k deduction limit is reached)

*Please note: "Bonus" Depreciation only refers to new software.

To find out more about specific limits, qualifying software, and qualified financing, visit: www.section179.org/

Stay Secure,

Secunia

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