Section 179 Tax Deductions Have Been Extended for 2016
A major part of any business strategy is making the right investment choices to position your company for long term success; including choosing the right equipment, software, or partnership to push your business in the right direction. However, one of the toughest obstacles facing businesses is finding the capital to pay for that investment.
Congress granted business owners an extension of the Section 179 Tax Deduction late last year, making business owners rush to take full advantage of the deductions for the 2015 tax year. But there is still time to take full advantage of this deduction for 2016 tax year.
Consult with your own tax and financial advisors to review and assess the factors that may apply to your business and tax situation.
With the announcement, business owners can take advantage of purchasing equipment and/or software and deduct the full purchase price of financed or leased equipment and software that qualifies, for the current tax year. The equipment or software must be within the specific dollar limits.
What is the Section 179 Tax Deduction?
The Section 179 Tax Deduction of the IRS Tax Code allows a business to deduct, for the current tax year, the full purchase price of financed or leased equipment and off-the-shelf software that qualifies for the deduction.
Major expenses typically are required to be depreciated over a term of years to account for what is known as the "useful life of the purchase" as dictated by the IRS. However, with the Section 179 tax deduction, business owners can elect to immediately expense the full purchase price of the equipment or software.
For example, if you purchase equipment for $50,000, you would typically write it off a little at a time through depreciation. Such as, $10,000 per year for say five years. However, most businesses would prefer to write off the entire equipment purchase price for the year they purchased it. This makes it more attractive to purchase more equipment when needed, instead of carrying over the purchase amount minus depreciation.
What Purchases qualify for Section 179 Deductions?
If you're interested in taking advantage of the tax deductions this year, take a look at some of the purchases that would qualify for the Section 179 deductions:
Most tangible personal property for business use, such as:
Partial Business Use (equipment purchased for business and personal use, restrictions apply)
When Can You Elect to Use the Section 179 Deduction?
You are eligible to take advantage of the Section 179 tax deduction for the tax year in which you placed the purchase(s) in service. For example, if you were to purchase a HP PageWide XL 8000 Printer and place the equipment into service by December 31, 2016, then you would be able to take advantage of the Section 179 deduction when you file your 2016 tax return.
Need help selecting the right investment for your business?
Your Repro Products Business Development Manager can help you determine a technology investment strategy which will give your business a competitive advantage. Simply visit Repro Products, email sales@reproproducts.com or call 770.434.3050 to begin maximizing your write-offs today.
For More Information and Section 179 References:
See below for more helpful articles with expert information on Section 179, and be sure to speak with your financial and tax professional about what impacts these deductions can have on your business.
According to a recent market research study conducted by Market Reports Hub, the 3D Scanner market size is expected to grow, in terms of value, from $3.41 Billion in 2015 to $5.90 Billion by 2022 at a compound annual growth rate (CAGR) of 9.6% between the same time period. View complete report on 3D Scanner Market here: http://www.marketreportshub.com/3d-scanner-industry-research-marketsandmarkets.html
The largest gain in popularity can be attributed to portable CMM-based 3D scanners because of the convenience and wealth of possibilities they afford for scanning tight spaces with a high rate of accuracy when applied to conventional and non-conventional scan jobs. Portable CMM-based scanners are categorized into handheld and articulated arm CMM. Expected to grow at the highest rate in the portable CMM category are the handheld 3D scanners.
What is 3D Laser Scanning?
3D Laser Scanning is the process of collecting data points of physical objects using a line of laser light and transforming them into point clouds of data from the surface of said object. The scanner emits the laser light over its full field of view. When the laser light touches an object it then reflects back the light towards the scanner, sending the scanner x-y-z coordinates and information about every surrounding point allowing for a three-dimensional cloud of points to be gathered. This point cloud information can be saved and rendered in various design softwares, allowing for the creation of 2D CAD renderings, and the x-y-z coordinates allow for the creation of a 3D model. 3D scanners can improve the time of production operations, while reducing costs and redundancy of projects, allowing for less time needed for project timelines and meeting deadlines which results in a more efficient and cost-effective project for every stakeholder involved.
Why Use 3D Laser Scanning?
There are a number of practical real-world applications for 3D Laser Scanning as it pertains to the AEC industry. 3D Laser Scanning services allow for improved Building Information Modeling (BIM) solutions, such as procuring As-Built information for better communication, eliminating the need for manual field measurements, and shortening of project lifecycles.
The cost of scanning services has decreased to now be competitive with manual measurement methods, thanks largely to the advancements in hardware and software solutions. Cost along with the increasing number of analytical options available thru 3D Laser Scanning is making it an increasingly attractive option to conduct detailed surveying of building structures.
In this Tutorial Tuesday, we highlight the newest additions and updates to the 2017 version of AutoCAD® Architecture. This presentation is presented by our Lead AEC Applications Engineer, Dzan Ta. First, Dzan walks you through the new features and enhancements of the software with an in-depth presentation highlighting the most important features and how they will affect you - the end-user. Dzan then takes you on a step-by-by tutorial of how these new features look in the software, providing you with real world application of what to expect and how to apply it to your design projects. Click the video below to view:
Repro Products is an Autodesk Authorized Training Center (ATC). We offer a number of courses for every design discipline for the AEC industry. Please see below to select a training course that best matches your needs.
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We also frequently offer free tutorials and how-to videos on our YouTube Channel. Click here to subscribe to the Repro Products' YouTube Channel.
It's August, which means that summer is coming to an end. We all wish we had more days to enjoy the dog days of summer soaking up sun, laying out by the pool and drinking Arnold Palmers. But school's almost in session and its time to register for your classes.
Autodesk® Revit® Architecture Classes Added for August
We have just added new Revit® Architecture classes for the month of August. This should satisfy your thirst for knowledge as you head back into the offices for the 4th quarter push.
For those with a strong handle on Revit® Architecture software, but looking to improve their understanding, Click below for information.
Objective: This course is designed to allow students to continue utilizing Revit® Architecture to increase their knowledge and productivity through additional collaborative tools, advanced development tools, and advanced construction documents tools.
For those of you looking for a more advanced course? Look no further than:
Objective: Broaden your knowledge of Revit® in the areas of Conceptual Design and BIM Management by exploring exercises in mass studies, space planning, visualization, rendering and creating custom families.
Training Program Options
Repro Products is an Autodesk Authorized Training Center (ATC). We offer a number of courses for every design discipline for the AEC industry. Please see below to select a training course that best matches your needs.
Are you still using Autodesk® Land Desktop? If you haven't heard, the last version of the software - Land Desktop 2009 and Land Desktop Companion were phased out in Spring of 2009 and replaced with AutoCAD® Civil 3D®.
Hey, we aren't here to judge, but we would like to offer some advice. If having the outdated industry standard for civil design solutions not reason enough to make the switch to AutoCAD® Civil 3D®, you're in luck. Our very own Civil Infrastructure Applications Engineer, Dave Young provides 10 reasons why you should make the switch. Watch the video below and and
Now that you have been equipped with ten of the best reasons (in no particular order) to make the switch over to Civil 3D, you are one step closer to optimizing your BIM workflows.
Learn more about Autodesk BIM solutions for infrastructure from the experts at Repro Products, Inc.
If you are interested in earning continuing education credits, we have Training Opportunities available for Infrastructure Design and other disciplines, including Manufacturing, Building/Architecture, and General Design. Training classes can be taken at our corporate headquarters or at your local office. For more information on the training courses we offer along with a schedule or to schedule your next training class, visit our Autodesk Training Center.
HP, Inc. announced on July 12th, 2016 that it has been awarded two prestigious 2016 Red Dot Awards for their HP PageWide XL Printer and the HP DesignJet T830 Multifunction Printer. With the help of the jury of experts, the internationally organised competition “Red Dot Award: Product Design” appraises the best products of the year. Manufacturers and designers from all over the world submit originals of their latest products in the hope of being awarded the sought-after distinction “Red Dot”.
"This large-format printer convinces with a careful design. Elegant in appearance, its form is complemented by easy accessibility and perfectly thought out functionality. The HP PageWide XL delivers intuitive operation, quickly making its use self-evident and integration meaningful. This printer impresses with a technical and aesthetic quality that immediately casts a spell on users."
"This space-saving multifunction printer enables large-format prints, scans and copies to be easily created on site in any place where they are required."
- Statement by the Red Dot Jury
Attend Our Open House
Interested in learning more about how HP models can transform your business?
RSVP for our HP Open House on July 27th, and automatically be entered for an Apple iPad when you attend.
Download Our Interactive Guide
Learn everything you need to consider before purchasing your next Large Format solution. Included in this guide are tips and tricks to help ensure you consider all of the crucial factors on your checklist before selecting your next wide format solution.
Autodesk's premier annual event - Autodesk University -is four months away, and Repro Products is excited to announce that we have two speakers representing us this year at the world's largest gathering of Autodesk software users. Our two speakers, Lead AEC Application Engineer, Dzan Ta and Application Engineer, Dave Young will be hosting two classes during the three-day conference in Las Vegas, from November 15-17, 2016. This year's theme is "Insight. Innovation. Inspiration" as thousands of CAD professionals converge on Las Vegas to share ideas, tips and tricks with their peers to help improve design processes, foster innovative solutions, and inspire the future of making things.
Sessions
There will be over 650 sessions to attend at this year's conference with a slew of great information and tips for the 2017 software releases, so make sure you plan accordingly to maximize your time and learning potential as registration will open in August.
Interested in registering for a class led by one of our Autodesk Certified Trainers at #AU2016? See below for session information and registration details.
As stated before, Autodesk University sessions will not be open for registration until August 17th, but in the meantime you have plenty of time to plan out your schedule with the new AU schedule.
Early bird registration is only $1,750 available until October 9th, after that the price jumps up to $2,175 which gives you plenty of time to convince your boss to help you pick up the tab.
Attend Events Before AU
Interested in attending one of our company events led by our Autodesk Certified Trainers? We hold a number of webinars and seminars for CAD users and AEC professionals to help empower your data management and design processes: Click here for a list of events.
Want hands-on training at the Repro Products' Authorized Training Center? We offer an extensive list of training courses on-site and are conveniently scheduled for you to maximize your time and gain the greatest return on your investment.
Welcome to Tutorial Tuesday! This week we are presenting Autodesk Vault: Document Management for Everyone hosted by our Manufacturing Solutions Engineer, Dan Williams in conjunction with DLT Solutions.
In today's #TutorialTuesday, our very own Autodesk Expert Elite trainer and Lead AEC Application Engineer, Dza Ta showcases some of the new features of AutoCAD 2017.
For more informative, how-to videos and tutorials from our Autodesk Elite training professionals, visit us on YouTube.
In today's #TutorialTuesday, our very own Autodesk Expert Elite trainer and Lead AEC Application Engineer, Dza Ta showcases some of the new features of Revit 2017, such as Reinforcement Connectors, Variable Rebar
For more informative, how-to videos and tutorials from our Autodesk Elite training professionals, visit us on YouTube.
In today's #TutorialTuesday, our very own Autodesk Expert Elite trainer and Lead AEC Application EnEngineer, Dza Ta gives us a "How To" tutorial of how to set up structure loads and load combinations in Autodesk Revit.
In today's Tutorial Tuesday, our Application Engineer, Zoltan Ferenczy walks us through utilizing FARO Focus3D X 330 HDR laser scanning technology in an Architectural Renovation. See the video tutorial below and tell us what you think.
Bluebeam Revu 2016 was launched on February 23rd and comes with a slew of new features that will help transform the way the AEC Industry works. New features like the Batch Markup Summary, Tag and Drawing Logs, Revit Plugin Enhancements are just a few of the new features that makes Bluebeam Revu 2016 a more intuitive PDF creation and markup tool for today's AEC professional.
We have compiled a list of our top 2 ways you can improve your workflows with Bluebeam Revu 2016. In this list, we highlight how Blubeam Revu 2016's new features and enhancements work with other complimentary products from HP and Autodesk to ensure that your project meets its deadline within budget.
In this installment of Tutorial Tuesday, Dzan Ta gives a detailed demonstration on how to use A360 Collaboration for Revit to empower your project team no matter where they're located.
In today's Tutorial Tuesday, our very own Dzan Ta provides us with a step-by-step tutorial of how to use Autodesk Revit, Dynamo, and Microsoft Excel to create a digital project dashboard.
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