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Old 11-05-2015, 08:26 PM
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Section 179

Are web based or cloud software purchases eligible for the Section 179 deduction? Are there any tax incentives for 2015 that relate to cloud software investments?



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Old 11-05-2015, 10:31 PM
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Are web based or cloud software purchases eligible for the Section 179 deduction?======>> Any off-the-shelf computer software (most types of computer software (except software that is considered an amortizable sec 197 intangible) ,not custom designed, or available to the general public is qualified for the Sec. 179 deduction in the year that you put the software into your business for income-producing activity. I mean
computer software is eligible for sec 179 deduction, but listing it as an amortizable asset could trigger a response from the IRS. to take advantage of the Section 179 Tax Deduction for this year, the software needs to be in service by December, 31 2015


Are there any tax incentives for 2015 that relate to cloud software investments?=========>>Not sure; I guess you may contact the IRS for more info



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Old 11-06-2015, 12:37 PM
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Section 179 for cloud software - dental software

What is this software is to manage my dental practice? You would not buy it at Best Buy but a vendor that sells this specific software.



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Old 11-06-2015, 02:06 PM
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Quote:
Originally Posted by Jameson View Post
What is this software is to manage my dental practice? You would not buy it at Best Buy but a vendor that sells this specific software.
As you know, Sec. 179 doesn’t increase the total amount you can deduct, but it allows you to get your entire depreciation deduction in one year,first-year expensing or Section 179 expensing, when you placed it to your actual biz use; Under Sec 179, you can deduct the cost of tangible personal property ,new or used, that you buy for your biz if the IRS has determined that the property will last more than 1 year. Although it’s not really tangible property, your biz use computer software can also be deducted under Sec 179.



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Old 11-06-2015, 02:58 PM
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Business use software

Does it matter that it is cloud based? OR does Section 179 exclude cloud based software?



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Old 11-06-2015, 06:09 PM
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Originally Posted by Jameson View Post
Does it matter that it is cloud based? OR does Section 179 exclude cloud based software?
aslongas the software is financed , or purchased outright by you to be be used in your business for income-producing activity, then it is subject to sec 179 expensing on yur return



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