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Section 179: GPS Tracking System Tax Breaks

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Businesses are constantly seeking the latest technological advances in order to increase profit and efficiency, but one thing many companies occasionally overlook is how tax codes can provide some financial relief. One tax code that many businesses should consider taking advantage of before 2013 rings to a end is Section 179. This is because the tax incentive program can actually benefit companies investing in new devices such as GPS tracking system units, making now the perfect time for any company to invest in vehicle management technology to better observe automotive fleet activity.

With Section 179 businesses can deduct up to a half a million dollars ($500,000) on purchases related to investment of equipment if that business has less that $2 million in overall capital expenditures. This makes it essentially advantageous to invest in more modern and technologically advanced equipment that can improve business efficiency this year rather then 2014. Purchases that would fall under this Section 179 tax exemption include items such company cars, office computers, and other machinery used for business purposes. Included in this list are GPS vehicle tracking devices that can provide mileage documentation, real-time tracking data and overall improvement in fleet oversight. Not to mention, auto theft security for company vehicles.

“GPS tracking systems can offer any company a method of reducing fuel consumption, enhancing worker productivity and lowering insurance costs, but Section 179 will also encourage businesses to invest in fleet management technology now because of the tax incentives”, explained a GPS tracking expert for Tracking System Direct. “What is also great about Section 179 is that it works retroactively to 2012 which will allow businesses already taking advantage of GPS tracking hardware to deduct some of those costs associated with hardware and service fees. Any business not talking to their CPA or tax guy about the benefits of Section 179 is really not doing their company any favors.”

There is only one week left to write-off costs associated with GPS vehicle tracking devices so talk with your accounting representatives soon about how your business can utilize this tax break in order to take your company to the next level of success.

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