New Tax Incentives for Security and Fire Systems
The Tax Cuts and Jobs Act (P.L. 115-97) signed into law on Dec. 22, 201, qualifying businesses can deduct the costs of new security and fire protection systems, up to a total of $1 million, which were not eligible prior to the new law. Equipment purchased, financed or leased must be within the specified dollar limits of Section 179. The equipment must be placed into service in the same tax year that the deduction is being taken. Recovering large expenditures such as equipment and security systems more quickly can help businesses improve their infrastructure, recover expenses quickly, and expand their capital assets. Contact Savvy Controls, Inc. at 888-999-5589 ext. 1 for a free consultation.