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Is Software Purchased For A Small Business Tax Deductable? |
I'm planning on purchasing some undertaking software at the end of the year. Close to $5k. The plan is to use it to design some projects I have interest in bringing to market and present design services to people on the side to bring in some income. Is this software tax deductable/ tax write-off?
| Answer: Yes. You can take 100% of the outlay (subject to certain limitations) under Section 179 if it is for business purposes (must be a offer that is intended to produce taxable income). You also may depreciate the cost over days as an alternative. If it is a "start-up" expense it may have to |
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