News & Events
BlackCSI Helps Businesses Deduct Up to $1M on Qualifying Equipment Expenses
BlackCSI is advising its clients about this tax-benefit in order to help businesses cope with the unforeseen and often sizable expenses the pandemic has forced upon them. This comes at a time when many small to mid-sized businesses (SMBs) are searching for ways to restructure their operations to accommodate for remote workplaces, work-from-home scenarios and/or hybrid-offices, and have discovered how important security is to make this transition happen. As business owners have done their best to comply with mandatory work-from-home policies, there are often significant costs in making these transitions work. BlackCSI is doing its part to keep the business community informed on how they can reduce their tax liability and weather the storm.
“Small and mid-sized businesses have taken the brunt of this pandemic,” stated Ruthann Black, President of BlackCSI. “Section 179 is too good of a deal to ignore. It’s a huge discount. If a business is restructuring itself or making an investment in technology or software, they need to know about this exemption.”
Section 179 is affording businesses a golden opportunity to reposition themselves for success, by making investments much more feasible than ever before. The IRS is firmly behind this incentive and has even expanded the maximum expense deduction in the recent years, “For tax years beginning after 2017, the Tax Cuts and Jobs Act (TCJA) increased the maximum Section 179 expense deduction from $500,000 to $1 million.” (IRS.gov)
As businesses have been confronted with mandates to operate remotely, Section 179 offers a much-needed tax-break to make this transition financially possible. The TCJA also amended the definition of “qualified real property” to mean qualified improvement property and some improvements to nonresidential real property, including roofs; heating, ventilation and air-conditioning property; fire protection and alarm systems; and security systems.
As a provider of various security-based technologies, BlackCSI is thrilled that businesses can more easily access the security tools they need making their teams more productive and secure as they work from home, and with the assistance of a government subsidy, business owners don’t have to do it all alone. For example, let’s assume that a business owner wants to invest $125,000 back into their company through qualifying expenses. In the first year, they can deduct the entire $125,000. This means that effectively they would save $43,750 (assuming a 35% tax bracket) on those expenses. This would drive the net cost of the new equipment down to $81,250. Regardless of which equipment the business invests in, Section 179 is a phenomenal program that should not be wasted.
Since we were first founded in 2002 by Ruthann Black, BlackCSI has provided small and medium-sized businesses with comprehensive IT support and consulting services.
Our mission is to maximize your return on investment by providing the kind of technology management services that are ordinarily reserved for large enterprises. From IT network management, unified communications to physical and logical security integration and much more, BlackCSI is committed to providing quality services to our clients with honest communication that you’d be hard pressed to find elsewhere, for prices that are fair and affordable.
We believe that the best way to solve an IT issue is to prevent it from ever happening in the first place. This is why we leverage a proactive service approach to predict and eliminate your technology issues - before they influence your business.
We are dedicated to serving our clients by listening to them, learning about the problems that they face, clarifying our process to maintain transparency, and reiterating how our solutions are of benefit to those we assist.
With Managed Services from BlackCSI, you will be able to enjoy: Proactive Care - The most effective way to avoid downtime and data loss is to be prepared to mitigate and avoid the circumstances that lead to them. 24/7 Maintenance - IT issues don’t stick to a 9 to 5 schedule. Neither do we. For a predictable monthly fee, you can enjoy anytime access to remote and on-site services, keeping you in operation. Live Help Desk Support - Need one-on-one assistance with your IT? Our Help Desk services are available 24 hours a day, 7 days a week, every day of the year.
With the assistance of BlackCSI, a Pennsylvania-certified Small Diverse Business, you can improve your operations through the use of top-of-the-line IT solutions and service - as well as boost your internal productivity and inspire growth.
We’d love to be a part of your success story. For more information about how BlackCSI can assist your business and fulfill your particular needs, Contact us today! For more information, please call (717) 620-3042 or visit us at https://www.blackcsi.com.