--- title: You Could Save Hundreds of Thousands of Dollars on Technology This Tax Year, But Only if You Act Now description: You Could Save Hundreds of Thousands of Dollars on Technology This Tax Year, But Only if You Act Now image: https://ontimetech.valeonetworks.com/hubfs/Blog%20Images/Imported_Blog_Media/Section-179.jpg --- [Skip to the main content.](https://ontimetech.valeonetworks.com/blog/you-could-save-hundreds-of-thousands-of-dollars-on-technology-this-tax-year-but-only-if-you-act-now#main-content) [![OTT powerd by VN big](https://ontimetech.valeonetworks.com/hs-fs/hubfs/OTT%20powerd%20by%20VN%20big.png?width=500&height=175&name=OTT%20powerd%20by%20VN%20big.png "OTT powerd by VN big")](https://ontimetech.valeonetworks.com) [![OTT powerd by VN big](https://ontimetech.valeonetworks.com/hs-fs/hubfs/OTT%20powerd%20by%20VN%20big.png?width=500&height=175&name=OTT%20powerd%20by%20VN%20big.png "OTT powerd by VN big")](https://ontimetech.valeonetworks.com) - [Services](https://ontimetech.valeonetworks.com/our-services/) - [Managed It Services](https://ontimetech.valeonetworks.com/our-services/managed-it/) - [Cybersecurity](https://ontimetech.valeonetworks.com/our-services/cybersecurity/) - [Cloud Solutions](https://ontimetech.valeonetworks.com/our-services/cloud-solutions/) - [Compliance](https://ontimetech.valeonetworks.com/our-services/compliance/) - [Industries](https://ontimetech.valeonetworks.com/industries/) - [Resources](https://ontimetech.valeonetworks.com/resources/) - [Blog](https://ontimetech.valeonetworks.com/blog) - [About](https://ontimetech.valeonetworks.com/about/) - [Client Testimonials](https://ontimetech.valeonetworks.com/testimonials/) [415-294-5250](tel:4152945250) [Client Portal](https://portal.Valeonetworks.com) Toggle Menu Toggle Menu [415-294-5250](tel:4152945250) [Client Portal](https://portal.Valeonetworks.com) - [Services *Toggle Menu*](https://ontimetech.valeonetworks.com/our-services/) - [Managed It Services](https://ontimetech.valeonetworks.com/our-services/managed-it/) - [Cybersecurity](https://ontimetech.valeonetworks.com/our-services/cybersecurity/) - [Cloud Solutions](https://ontimetech.valeonetworks.com/our-services/cloud-solutions/) - [Compliance](https://ontimetech.valeonetworks.com/our-services/compliance/) - [Industries](https://ontimetech.valeonetworks.com/industries/) - [Resources *Toggle Menu*](https://ontimetech.valeonetworks.com/resources/) - [Blog](https://ontimetech.valeonetworks.com/blog) - [About *Toggle Menu*](https://ontimetech.valeonetworks.com/about/) - [Client Testimonials](https://ontimetech.valeonetworks.com/testimonials/) - Example Link - Example Link - Example Link [*Facebook*](https://ontimetech.valeonetworks.com/blog/you-could-save-hundreds-of-thousands-of-dollars-on-technology-this-tax-year-but-only-if-you-act-now#0) [*Instagram*](https://ontimetech.valeonetworks.com/blog/you-could-save-hundreds-of-thousands-of-dollars-on-technology-this-tax-year-but-only-if-you-act-now#0) [*LinkedIn*](https://ontimetech.valeonetworks.com/blog/you-could-save-hundreds-of-thousands-of-dollars-on-technology-this-tax-year-but-only-if-you-act-now#0) [*Twitter*](https://ontimetech.valeonetworks.com/blog/you-could-save-hundreds-of-thousands-of-dollars-on-technology-this-tax-year-but-only-if-you-act-now#0) [*Youtube*](https://ontimetech.valeonetworks.com/blog/you-could-save-hundreds-of-thousands-of-dollars-on-technology-this-tax-year-but-only-if-you-act-now#0) [*Medium*](https://ontimetech.valeonetworks.com/blog/you-could-save-hundreds-of-thousands-of-dollars-on-technology-this-tax-year-but-only-if-you-act-now#0) 2 min read # You Could Save Hundreds of Thousands of Dollars on Technology This Tax Year, But Only if You Act Now [Lance Stone](https://ontimetech.valeonetworks.com/blog/author/ulisticadmin) : Dec 18, 2014, 1:16:07 PM [Managed IT Services](https://ontimetech.valeonetworks.com/blog/tag/managed-it-services) ## The U.S. Senate has passed a major enhancement to Section 179 of the IRS tax code as of Tuesday, December 16! **Wait, don’t fall asleep! Sure, we’re talking about the tax code and Congress, but this is GOOD NEWS for businesses in {city}. What’s the catch? YOU HAVE TO ACT NOW!** ![Section 179 News](https://ontimetech.valeonetworks.com/hs-fs/hubfs/Blog%20Images/Imported_Blog_Media/Section-179.jpg?width=200&name=Section-179.jpg)You can read more about the benefits of the Section 179 tax deductions [here](http://www.section179.org/simplifying_section_179.html), but essentially this allows businesses like yours to deduct the full purchase price of qualifying equipment or software that was either purchased or financed during the tax year. Not a partial price or the amount of tax you’d pay, but the entire full purchase price. That’s quite a chunk you can deduct from your gross income, and it doesn’t matter whether you paid in cash or you financed the sale. Moreover, the total amount that a business can write off for 2014 has been increased from $25,000 to a whopping $500,000! That’s retroactive back to the beginning of this year, January 1, 2014. **BUT (and of course, there’s always a but): this enhancement will expire on December 31, 2014. It has only been approved for this year, so you only have the next two weeks to act.** Luckily, Section 179 has been designed to be easy to use. So long as you’ve bought or financed [any eligible equipment](http://www.section179.org/property_that_qualifies_for_section_179.html) between Jan 1st and Dec 31st, 2014, you just have to fill out a form from the IRS to claim the amount. [You can read more about the process here](http://www.section179.org/electing_section_179_deductions.html). **Here’s an example of how this tax deduction works:** - Your business reports a 2014 profit of $100,000. - If your business is in, say, a 30% tax bracket, you owe $35,000 in taxes. - If you purchase or finance $100,000 worth of eligible Section 179 equipment during the tax year, you can write off the full amount of $100,000. - Thus, you pay nothing in taxes, essentially saving $35,000. As with all tax matters, make sure you contact your tax professional to ensure your business can benefit from this tax deduction. Most businesses can, but you should make sure you know for certain now so you can begin preparing to take advantage of it before the deadline of December 31. **At {company}, we are dedicated to making your technology provide the best possible value for your business, whether that’s in improved productivity and efficiency from streamlined IT services and support, or in strategy and guidance on taking advantage of innovative IT solutions and opportunities like this. To find out more about how we can improve your technology experience in {city}, contact us today at {phone} or {email}.** - [Tweet](https://twitter.com/share) #### ![BusinessOwnerGuidetoM&A-1](https://ontimetech.valeonetworks.com/hs-fs/hubfs/BusinessOwnerGuidetoM%26A-1.png?width=303&height=209&name=BusinessOwnerGuidetoM%26A-1.png) #### Download our eBook*THE ULTIMATE ROADMAP TO CMMC COMPLIANCE* by filling out the form below! [![Are You Missing Out on Important Tax Credits?](https://ontimetech.valeonetworks.com/hubfs/Blog%20Images/Imported_Blog_Media/WATCH-OUR-SECTION-179-Training-Video.jpg)](https://ontimetech.valeonetworks.com/blog/are-you-missing-out-on-important-tax-credits) #### [Are You Missing Out on Important Tax Credits?](https://ontimetech.valeonetworks.com/blog/are-you-missing-out-on-important-tax-credits) [Lance Stone](https://ontimetech.valeonetworks.com/blog/author/ulisticadmin) : Nov 26, 2018, 11:01:41 AM Running a business is an expensive proposition, and it only starts with paying your vendors and employees. The tax codes can be a quagmire of... [Managed IT Services](https://ontimetech.valeonetworks.com/blog/tag/managed-it-services) [Read More](https://ontimetech.valeonetworks.com/blog/are-you-missing-out-on-important-tax-credits) [![Is Your Router Opening Your Business to Cybercrime? You Might Have Been Given the Misfortune Cookie!](https://ontimetech.valeonetworks.com/hubfs/Blog%20Images/Imported_Blog_Media/misfortune-cookie-security-flaw.jpg)](https://ontimetech.valeonetworks.com/blog/is-your-router-opening-your-business-to-cybercrime-you-might-have-been-given-the-misfortune-cookie) #### [Is Your Router Opening Your Business to Cybercrime? You Might Have Been Given the Misfortune Cookie!](https://ontimetech.valeonetworks.com/blog/is-your-router-opening-your-business-to-cybercrime-you-might-have-been-given-the-misfortune-cookie) [Lance Stone](https://ontimetech.valeonetworks.com/blog/author/ulisticadmin) : Dec 30, 2014, 12:18:47 PM A critical flaw has been discovered in over 12 million routers that could open up a network to easy hijacking by cybercriminals. Is your business... [Managed IT Services](https://ontimetech.valeonetworks.com/blog/tag/managed-it-services) [Read More](https://ontimetech.valeonetworks.com/blog/is-your-router-opening-your-business-to-cybercrime-you-might-have-been-given-the-misfortune-cookie) [![What happens when you search the words “Search Engine Optimization”? You receive about 25,800,000 results. Those are impressive results for only three words.](https://ontimetech.valeonetworks.com/hubfs/Blog%20Images/Imported_Blog_Media/Search-Engine-Optimization-1.jpg)](https://ontimetech.valeonetworks.com/blog/tech-tips/what-happens-when-you-search-the-words-search-engine-optimization-you-receive-about-25800000-results-those-are-impressive-results-for-only-three-words) #### [What happens when you search the words “Search Engine Optimization”? You receive about 25,800,000 results. Those are impressive results for only three words.](https://ontimetech.valeonetworks.com/blog/tech-tips/what-happens-when-you-search-the-words-search-engine-optimization-you-receive-about-25800000-results-those-are-impressive-results-for-only-three-words) [Lance Stone](https://ontimetech.valeonetworks.com/blog/author/ulisticadmin) : May 24, 2014, 10:23:13 AM SEO is one of the most popular topics when it comes to online marketing in the modern age. The online world is fast and ruthless. If you’re not... [Managed IT Services](https://ontimetech.valeonetworks.com/blog/tag/managed-it-services) [Read More](https://ontimetech.valeonetworks.com/blog/tech-tips/what-happens-when-you-search-the-words-search-engine-optimization-you-receive-about-25800000-results-those-are-impressive-results-for-only-three-words) ![OTT White logo](https://ontimetech.valeonetworks.com/hs-fs/hubfs/VN%20-%20Division%20Logos/OTT%20Logo/OTT%20White%20logo.png?width=524&height=140&name=OTT%20White%20logo.png)   ##### About About On Time Tech is an IT Support and Computer Services company serving California. We provide services to the areas in and around We know businesses like yours need technology support in order to run highly-effective organizations. Leverage pro-growth technology services for your company now. ##### Explore On Time Time Explore On Time Time - [Our Services](https://ontimetech.valeonetworks.com/our-services/) - [Industries](https://ontimetech.valeonetworks.com/industries/) - [Resources](https://ontimetech.valeonetworks.com/resources/) - [About](https://ontimetech.valeonetworks.com/about/) - [Contact](https://ontimetech.valeonetworks.com/contact/) ##### Contact Contact **San Francisco:** 1717 Fifth Ave San Rafael, CA 94901 [415-294-5250](tel:4152945250) Business Hours: M-F: 8AM-9PM - [Privacy Policy](https://ontimetech.valeonetworks.com/privacy-policy/) © 2026 On Time Tech [*Facebook*](https://www.facebook.com/ontimetechsf/)[*Twitter*](https://twitter.com/on_time_tech?lang=en)[*LinkedIn*](https://www.linkedin.com/company/ontimetech/)[*YouTube*](https://www.youtube.com/channel/UCubqs9PU_WWF-RFhfK9xNpw) [![Alura White logo](https://ontimetech.valeonetworks.com/hs-fs/hubfs/VN%20-%20Division%20Logos/Alura%20White%20logo.png?width=295&height=115&name=Alura%20White%20logo.png)](https://alura.valeonetworks.com/) [![Next.I.T._White-Logo](https://ontimetech.valeonetworks.com/hs-fs/hubfs/Next.I.T._White-Logo.png?width=328&height=136&name=Next.I.T._White-Logo.png)](https://next-it.net/) [![White-OTT-Logo-1-768x253](https://ontimetech.valeonetworks.com/hs-fs/hubfs/White-OTT-Logo-1-768x253.png?width=313&height=103&name=White-OTT-Logo-1-768x253.png)](https://www.ontimetech.com/) [![Valeo-Logo-White (1)](https://ontimetech.valeonetworks.com/hs-fs/hubfs/Valeo-Logo-White%20(1).png?width=288&height=123&name=Valeo-Logo-White%20(1).png)](https://valeonetworks.com/) *Return to Top* ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Lance Stone", "url" : "https://ontimetech.valeonetworks.com/blog/author/ulisticadmin" }, "dateModified" : "2024-01-10T16:25:39.408Z", "datePublished" : "2014-12-18T18:16:07.000Z", "headline" : "You Could Save Hundreds of Thousands of Dollars on Technology This Tax Year, But Only if You Act Now", "image" : [ "https://ontimetech.valeonetworks.com/hubfs/Blog%20Images/Imported_Blog_Media/Section-179.jpg" ], "mainEntityOfPage" : { "@id" : "https://ontimetech.valeonetworks.com/blog/you-could-save-hundreds-of-thousands-of-dollars-on-technology-this-tax-year-but-only-if-you-act-now", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://ontimetech.valeonetworks.com/hubfs/OTT%20-%20Color%20Logo.png" }, "name" : "Valeo Networks" } } ```