Portland, OR (PRWEB) April 8, 2010
Thanks to new legislation, customers choosing to finance their purchase of document management software can extend the cost over several years while potentially writing-off the purchase in 2010.
On March 18th, 2010, President Obama signed the Hiring Incentives to Restore Employment Act (HIRE Act) of 2010 into law, helping businesses hire and retain new employees. In addition to a $13 billion tax credit encouraging businesses to hire workers, and an extension of Build America Bonds used by state and local governments to cut financing costs for infrastructure projects, the act also includes an extension of increased expensing limits for small businesses.
The increase in expensing of certain depreciable business assets extends the higher limits for Section 179 small business expensing through 2010, allowing qualifying businesses to deduct up to $250,000 from taxable income.
Usually, if purchases have a useful life of more than one year, the cost must be spread across several years as depreciation. As a result, businesses would typically only recognize a portion of the deduction from taxable income each year. However, by using the newly extended Section 179 deduction, businesses may now be able to deduct up to $250,000 from taxable income in 2010.
Leasing options provided by ColumbiaSoft through financing provider JWP Capitol give customers the ability to defer the cost of acquiring a document management system over several years while using Section 179 to deduct the purchase in 2010. This helps diminish the short-term budget impact while conserving cash.
About ColumbiaSoft Corporation
ColumbiaSoft is a leader in document management software and services designed to enhance efficiency, reduce risk, and improve collaboration. Information workers use ColumbiaSoft software to manage and share paper and electronic documents, e-mail, faxes, and other electronic files to reduce costs, increase productivity, automate business processes, and meet compliance requirements. As a Microsoft Gold Certified Partner, an Autodesk Authorized Developer, and an Adobe Solutions Network partner, the company’s products fully integrate with popular applications such as Microsoft Windows, Office, Outlook, SharePoint, Adobe Acrobat, AutoCAD, and more. ColumbiaSoft is a privately held company based in Portland, Oregon and was founded in 1998. For more information, visit http://www.documentlocator.com.
All referenced product names, and other marks, are trademarks of their respective owners.
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