Office Furniture is tax deductible under Section 179

By November 19, 2018 Furniture Liquidations

The end of the year means filing your tax returns is just around the corner.

We are excited to share the great news that office furniture purchases, financing/leasing is tax deductible under Section 179.

It is a use-it or lose-it write-off so you need to act now!

Acceptable Equipment List:

  • Equipment (machines, etc.) purchased for business use

  • Tangible personal property used in business

  • Business Vehicles with a gross vehicle weight in excess of 6,000 lbs (see Section 179 Vehicle Deductions)

  • Computers

  • Computer “Off-the-Shelf” Software

  • Office Furniture

  • Office Equipment

  • Property attached to your building that is not a structural component of the building (i.e.: a printing press, large manufacturing tools and equipment)

  • Partial Business Use (equipment that is purchased for business use and personal use: generally, your deduction will be based on the percentage of time you use the equipment for business purposes)

  • Certain improvements to existing non-residential buildings: fire suppression, alarms and security systems, HVAC, and roofing

Make sure you do your homework to verify that your company is leveraging the Section 179 Deduction this year. More info