ANN ARBOR, MI – October 22, 2024 – UTEC, a leading managed technology services provider, is encouraging business owners to take advantage of the IRS Section 179 tax deduction, which provides significant savings on capital expenditures for 2024. This year, businesses can deduct up to $1,220,000 on qualifying equipment purchases, including copiers, printers, IT infrastructure, managed software, cybersecurity solutions, phone systems, surveillance systems, and other essential business tools.
Under the Section 179 deduction, businesses can depreciate 100% of the cost of eligible equipment bought or financed, provided it's put into service before December 31, 2024. While UTEC does not offer financial advice, they did want to inform business owners to consult with their CPA to ensure they don’t miss this opportunity to increase their profits before the end of the year.
Dale Vanderford, Chief Information Officer at UTEC stated, “Section 179 is an incredible opportunity for businesses looking to invest in their future. With political uncertainty surrounding tax policies in the coming years, it’s essential for companies to capitalize on this deduction while it’s available. We’re committed to sharing information that can help businesses thrive. Whether or not a company chooses to work with us for office technology needs, we feel a duty to help our fellow business owners thrive by sharing information, resources, expertise or any other value we can offer.”
Vanderford emphasized that many businesses often delay capital investments until the end of the year, but Section 179 rewards those who plan ahead and reinvest in their operations. “While everyone is focused on finishing the year strong, it’s worth taking a moment to assess which projects and upgrades can be made now to take advantage of this tax code,” he added. “This deduction can instantly boost profitability by reducing tax liabilities, making it an easy win.”
UTEC’s core mission is to simplify technology and improve profitability for its clients and sharing this tax benefit aligns with that goal. “We strive to help our customers boost their profits in any way we can, usually through technology, but in this case, it’s a simple financial strategy,” said Vanderford. “Business owners have enough on their plates. By taking a moment to plan for the future, they could see significant tax savings.”
ABOUT UTEC
UTEC was established in 1975 in Ann Arbor,
Michigan. UTEC is a growing company recognized as a leader in office and
information technology solutions and services. They offer state-of-the-art
products and unwavering customer service that has helped grow and expand their
operations throughout Michigan. UTEC employs a staff of over 40 people and
provides the following products and services: a variety of IT solutions,
including managed network capabilities, multi-function printers & copiers,
managed print services, VoIP phone systems, digital and interactive displays,
document management solutions, thermal imaging kiosks, postage meters, and
mailing solutions. They can attribute much of their growth over the past
several years by specializing in customized IT and Smart Office Solutions.
UTEC's focus extends beyond the products and
services they offer. They are dedicated to supporting the local communities
they operate, including many non-profit organizations, Chambers of Commerce,
high school and collegiate academics, and athletics.
For more information on UTEC's business
products and services, contact UTEC, 1995 Highland Drive, Suite. C, Ann Arbor,
MI 48108. For online company and product information, visit our website at www.utecit.com.
