2016 Section 179 Expiring Soon – Act Now to Save!

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As the year is quickly coming to an end it is time to think about how your taxes will be affected for the year.  One thing many businesses consider is purchasing new equipment.

If you are considering acquiring equipment in the near future or are a supplier looking to save your customers money, Section 179 impacts you!

As part of the IRS Tax Code, Section 179 allows businesses to deduct the full purchase price of certain assets financed or leased and put into service during the tax year. Accelerating depreciation rather than spreading the deduction over the item’s useful life provides a larger tax deduction come tax time. With a $500,000 maximum deduction available, you could keep a lot more money in your pocket.

Additionally, since Section 179 covers new and used equipment or software, you can get the equipment you need now, take the full tax benefit now, and spread your expense over a multi-year financing term, thus significantly reducing your true cost of ownership.

Equipment could be things like new vans or trucks, tools, heavy duty equipment and even a GPS tracking system to help manage your business.

It is important to contact your tax advisor before making a purchase to make sure you qualify and what impact a substantial purchase would have on your taxes.

For more details go to the following website:

http://www.section179.org/

 

Why GPS Tracking Is Not Just For Location Anymore.

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Everyone knows that GPS tracking is beneficial to locate vehicles but today’s tracking is much more.  A good tracking system should include additional items at no extra cost.

  1. Easy to Use Interface: How easy is it to use.  Cumbersome interfaces and difficulty finding the information you need can be frustrating drawbacks to inferior or cheaper systems.
  2. Reliability: Is the system reliable?  Using the best available components makes for a better system.
  3. Maintenance: Set up alerts for maintenance reminders such as oil changes, tire rotations etc..
  4. Location Alerts: The ability to alert the user when a vehicle leaves or enters a per-designated area.
  5. Speed Alerts: Alert user on speeding and other types irresponsible driving.
  6. Reports: Easy to configure reports and save as PDF or excel spreadsheets.  Reports should be able to be sent automatically on a pre-determined date; daily, weekly or monthly.
  7. Closest Vehicle: For multiple vehicles the ability to locate a vehicle closest to an address.  Great for businesses that do emergency calls.
  8. Smart Phone App: Most systems that work well on a laptop or computer do not translate well to smart phones or tablets. A system that has an app designed to work on a smartphone or tablet is a great advantage.
  9. Mileage Report: Reporting for IFTA or tax purposes.

Additional items that should be available at an extra cost could include:

  1. Garmin integration: the ability for managers to communicate and set routes to drivers navigation device.
  2. PTO: For those using PTO’s the ability to monitor use.
  3. Asset Tracking: tracking motorized as well as non-motorized assets.  These typically would be at a lower cost.

When reviewing options it is always important to review what you are getting and what you are paying.

“Price without quality is never a bargain”

For more information on GPS Tracking and the benefits available go to: www.bostonglobaltracking.com

Boston Global Tracking is a local American owned business with a national presence serving any business with vehicles on the road. Fleets From 1 to 1,000’s.