9:01 CET, 14th February 2011 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:
*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/