BrevAll Technologies Helps SMBs Use IRC Section 179 to Benefit from Significant Tax Deduction on New Technology

 

NORTH RICHLAND HILLS, TEXAS – November 22, 2021 – BrevAll Technologies is helping small and mid-sized businesses reduce their annual tax bill using Section 179 of the Internal Revenue Code. IRC Section 179 provides a tax break for companies allowing them to deduct up to $1,050,000 on qualifying equipment and software put into service in 2021. Essentially, it’s an incentive created by the U.S. government to encourage businesses to buy new equipment and invest in their companies. The deduction is good until a company reaches $2.62 million in purchases for the year.

Many business owners have installed new technology due to this addition to the tax code because recent breakthroughs enable businesses to collaborate better, faster, and more efficiently.

“We were stunned to find out that so many of our customers are not taking advantage of the Section 179 tax deduction,” stated Paul Enloe, CEO of BrevAll. “To take advantage of the deduction this year, businesses need to identify and put into service the new technology, equipment or software by New Year’s Eve 2021. At BrevAll, we help our customers every step of the way. Our goal is to bring our customers technology that not only enhances their productivity but, more importantly, increases their bottom line.”

The federal government’s intention with this program is to stimulate the economy by permitting business owners to accelerate their depreciation rate so that instead of being forced to depreciate their capital expenditures over a 5-year basis, they can depreciate their entire investment at once, which can typically result in major tax savings.

ABOUT BREVALL TECHNOLOGIES

BrevAll Technologies, Inc. is a 33-year-old, North Richland Hills, Texas-based technology firm focused on Cybersecurity, Dark Web Monitoring, Managed IT Services and Voice over IP Cloud Solutions.

Menu