Take Advantage of Section 179 to save big on technical furniture!
Save thousands while improving your work space with Formaspace!
It's called a Section 179 deduction. Here's how it works:
Qualifying businesses (all businesses that purchase less than $2,000,000 in business equipment during tax year 2010)
can claim up to $500,000 in deductions on their federal income
taxes for capital equipment such as furniture systems in 2010.
That means huge savings for you, but you must act now to save! In order to qualify for the Section 179 Deduction, the furniture must be purchased by December 31, 2010.
If a company purchases up to $500,000 of benches from us, they may be able to write off the entire expense this tax year, saving tens of thousands of dollars in taxes. At a 35% tax rate, your savings look like this:
No Financing
| Benches | $500,000 |
| Less: Tax savings @ 35% | <$175,000> |
| Actual cost: | $325,000 |
That's huge savings!
Now, what happens if you finance the purchase of your benches through your bank? The obvious advantage to financing your purchase and then taking the Section 179 Deduction is the fact that you can deduct the full amount of the equipment, without paying the full amount this year. If you make a 20% down payment and finance the remainder of the benches under a five year note:
With Financing
| Benches @ 20% down | $500,000 |
| Less: Tax savings @ 35% | <$175,000> |
| 1st Year Cash Benefit: | $75,000 |
In other words, you can actually gain a net cash inflow by purchasing furniture from Formaspace.
What if you purchase more than $500,000? Congress has also instituted 50% bonus depreciation on amounts over $500k for leasehold improvements.
With a deal like that, why not contact us today? For a free, no-obligation consultation, please call our design consultants directly at 1.800.251.1505!
