IRS Sect 179 Allows Helps Write-off GPS Tracking System Purchase

Write-Off 100% of Your GPS Tracking System Purchase Plus Realize a 35% Savings


Now may be the perfect time to invest in a GPS tracking system since the federal government will essentially pay for a large portion of it. Thanks to the extension and increased deductions with IRS Piggy-BankSection 179, businesses can write off up to $500,000 for equipment purchased during 2011.

Take advantage of IRS Section 179 by purchasing your GPS tracking equipment before the end of the year!

You may be able to write off your entire GPS tracking system purchase through the American Recovery and Reinvestment Act. Under the ARRA, the U.S. government extended the increased depreciation limits for Section 179 of the IRS tax code. This allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. This was put in place to encourage business growth in the U.S.

Here is a summary of the benefits of Section 179:

– Write off 100% of equipment purchases up to $500,000

– Receive 100% bonus depreciation for purchases above $500,000 up to a maximum of $2,000,000

How Section 179 works:

When your business buys certain pieces of equipment, it typically gets to write them off a little at a time through depreciation. In other words, if your company spends $50,000 on a vehicle, it gets to write off $10,000 each year over five years. With Section 179, you can write off the entire amount this year.

Visit the FieldLogix website to calculate your potential cost savings.

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