The Tax Extenders Act, also known as H.R. 5771: Tax Increase Prevention Act of 2014, was recently approved by the House and Senate and signed into law by President Obama. This tax bulletin extends the amount that businesses can write off due to the acquisition of new or used equipment, technology or software throughout 2014. Previous limits were $25,000 but have now been increased to $500,000 and all acquisitions must be made by December 31, 2014 (but the bill is retroactive to January 1, 2014). The bill also reinstates 50% bonus depreciation.
While this new tax bulletin doesn’t leave businesses with much time before the end of the year to act, there are still a few days left in the year to take advantage of this very attractive tax incentive. We at WalaLight will be here every day through 12/31/14 to help you select the most advanced LED lighting to meet your needs, offering attractive financing options and allowing you to take advantage of the expanded tax deduction limits. Our preferred finance companies can even approve your financing application in as little as two hours so you can meet the tax incentive deadline. Of course, we’ll still be here ready to help you determine your company’s or organization’s lighting needs long after the tax incentives expire, but we encourage you to take advantage of the extended tax benefits for 2014 while you can.
Buying or leasing LED WalaLights can make quite an impact on your bottom line. For example, if you act before December 31st, are in the 35% tax bracket and have corporate profits in 2014 of $100,000, the acquisition of Walalights prior to year-end can reduce your tax obligation by $35,000. These are benefits you’ll reap over and above the substantial cost savings you can recognize over the long-term by installing energy-efficient LED Walalights, not to mention the behavioral and health benefits offered by the advanced technology.
To learn more about the details of the expanded Section 179D tax deduction limits for 2014, visit http://www.section179.org.
Call (855) 672-7020 to speak with one of our experienced LED lighting specialists about the Walalight System. Until December 31, 2014, buying or leasing Walalights can result in substantial tax savings, in addition to the long-term savings already afforded by the advanced lighting products.