Can the Tax Man be Santa?

Even this late in the year I speak with people trying to spend money to avoid the tax penalty.  Most are spending on office supplies and other consumables rather than investing in resources that are used daily that are not consumable recycleable.  HARDWARE.  SOFTWARE.  LEASED EQUIPMENT.  These assets are what will increase productivity through increased speed, increased sucurity preventing lose of downtime due to viruses, cyber attacks or other malicious software.  Every business owner should be taking advantage of this tax deduction this year.  Dont wait.  The tax code I am telling you about is Section 179 of the IRS tax code.  It essentially says anything you buy or lease in 2010 is 100% tax deductable if it is under $500,000 including computer equipment, software, or vehicles.  These items wont be stolen like pens, or thrown away like sticky notes.  Below is more information on Section 179.  If you want or need anymore iformation feel free to contact us @ (850)272-0943 or online @ http://www.omegatechllc.com/

Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It's an incentive created by the U.S. Government to encourage businesses to buy equipment and invest in themselves. It is sometimes referred to as the "SUV Tax Loophole" or the "Hummer Deduction" because many businesses have used this tax code to purchase qualifying vehicles (like SUV's and Hummers.)

Essentially, Section 179 works like this:

When your business buys certain pieces of equipment, it typically gets to write them off a little at a time through depreciation. In other words, if your company spends $50,000 on a vehicle, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example.)

Now, while it's true that this is better than no write off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it.

In fact, if a business could write off the entire amount, they might add more equipment this year instead of waiting. That's the whole purpose behind Section 179… to motivate the American economy (and your business) to move in a positive direction. For most small businesses (adding total equipment, software, and vehicles totaling less than $500,000 in 2010), the entire cost can be written-off on the 2010 tax return.

For businesses adding even more than $500,000, the write-offs are still substantial. See the following graphic for an example of the savings that is currently available to you after the 'Small Business Jobs and Credit Act of 2010' passed in September 2010.

Give the Gift this Christmas

In a time when companies are shunning the traditions and heritage that made this country what it is Omega Technologies is celebrating. The Gift of giving. Christ gave His life for us and he left us with a few commandments; Do unto others.... Visit the children and widows.... and feed the hungry. This Christmas we are helping feed the hungry. We are looking for new friends and customers for 2011 and we thought there is no better way to make friends than to give a gift so we propose to give all we can. Here is that plan:

For every new business customer that contacts us in the last few days before Christmas and asks us to do a network audit usually priced around $300 and asks we will provide the audit for $25. We will also donate 25lbs of food to Chipola Family Ministries in Marianna Fl. in their name. CFM feeds approximately 13000 people per year and like all businesses, charities and organizations times are tough. This also fits our mission and culture well because we are all about providing solutions to those in need. We just EXCEL at technology above the competition.

The audit we will complete will be a comprehensive audit of all aspects of your network, provide a list of security issues that need to be addressed and the way to address them. We will provide reports as a baseline to give you some idea of where you are and where you need to be. After that there will be no further requirements. You are not required to buy anything, ever. We aren't high pressure sales we provide you with all of the information we can to let you make a decision. If you would like a follow up visit then we would be happy to present you with other options at that time. Our short term gaol is to feed those who would not otherwise have a GOOD MEAL for Christmas with a gift from the heart and lend a little support to an organization like Chipola Family Ministries that works at this year round at a time when they need it the most. Help us do that. If you are in Marianna (850) 272-0943, Panama City, (850) 387-0103, Tallahassee (850) 583-0223. Surrounding areas (850) 272-0943. Or email us @ info@omegatechllc.com

Edit:

In order to get credit for giving the meals we must have to money on or before Dec 23. The credit will be wholly the company receiving the free audit and Omega Technologies will never be mentioned. If you wish we can include a card saying Merry Christmas from...."Company Names" Of course that is optional.