As I recently wrote in an email to our customers, Congress doesn’t usually do much for small businesses, but for once, they’ve done us a big favor.I’m a phone guy, not a CPA, so here’s a simple explanation.
You can deduct the cost of new phone equipment or lease for your business up to $500K. Telephone systems and Premise PBX both qualify; you just need to take possession of any equipment by December 31st.
How the New Business Phone System Works
As you can see, your company can acquire a $25,000 voice communication system at the equivalent of a 35% discount. Enjoy all of the benefits of a new system such as mobile phone integration, voicemail as email, remote telephones, and more. Plus, you’ll replace your old PBX hardware, thus improving reliability. What’s not to like about this?
If you’ve got an aging phone system, contact us today to see if this tax deal works for you.