Computer Tax Deduction: Tax Breaks for New Computers
Tax Reform Has Made New PCs an Even Smarter Investment. What are you Waiting for?
- Deduct 100% of new equipment costs up to $1M1
- No need to keep detailed records of how your PCs are used
- Higher cap for deducting PC costs in a single year instead of over time
This article is reposted courtesy of Intel.
With new tax laws in place, it’s never been a better time to upgrade your PCs. The Tax Cuts and Jobs Act (TCJA) now allows small and medium-sized businesses to deduct 100 percent of the cost of new equipment up to $1 million.1 The deduction is immediate—meaning you don’t have to wait until tax season to realize the benefits.
The new law also means you no longer need to keep detailed records of how your computers are used. Any computer used at least 51 percent for business purposes is deductible.1
And now the cap for deducting the cost of new computers in a single year is much higher than before. So it’s less likely you’ll need to deduct these equipment costs in installments over the course of several years as you may have been forced to do in the past.
You can bet your competition will be taking advantage of the changes to the tax code. What are you waiting for?