Management Practices

Get Your Tax Write-off

Stacey Soble | July 10, 2011 | 2:42 PM

If you are thinking about buying or leasing new equipment, furniture, computers or lighting, 2009 is the year to do it. Small business owners who buy or lease new equipment can write-off 100 percent of the cost under the American Recovery and Reinvestment Act. In addition, the Economic Stimulus Act of 2008 and the Recovery Act of 2009 have provided the small business owners with generous new (and higher) deduction limits.

Get Your Tax Write-off
The new Freestyle System in Salon Beck in Cincinnati, Ohio, qualifies for the Section 179 tax deduction.

Check out the Section 179 website for information on equipment that qualifies, deduction limits and a deduction calculator that helps you calculate how much you can save.

"Section 179 of the IRS Tax Code allows small businesses to deduct, for the current tax year, the full purchase price of financed or leased equipment that qualifies for the deduction," explains Blair Hopper, president and CEO of Freestyle Systems. "Both our SpectaLights and FreeStylist Systems qualify for this deduction. The program enables salon owners to improve and re-invest in their businesses to keep them competitive and successful," he concludes.

Salon owners interested in applying for the deduction must do so by December 31, 2009.

Facebook Comments

More from Management Practices

SALON TODAY RECOMMENDS: Salon Success Stories—Referrals, Retail, Online Booking and Hiring

Elizabeth Jakaitis | December 9, 2016

Salon ownership is about innovation; implementing new methods that will grow business and client satisfaction is key. At SALON TODAY, we're always on the lookout for accounts from salon owners on ways that they have made their business more efficient and profitable. Here are a collection of success stories gathered by Aveda Means Business which outline paths to gaining referrals, growing retail sales, implementing online booking and hiring smart.

Management Practices
Management Practices

How to Write A Business Plan

September 29, 2016

In addition to being necessary for securing a business loan, a business plan also provides the outline you’ll need to operate (or improve) your business and to provide a long-term game plan. Here we provide a template and break down each component of a strong business plan.

Load More