Price Increases (The Bad News)

Cost increases on office furniture will definitely show up in the first quarter of 2019.

Here are some tips to help you save.

– Take a look at your office furniture budget for 2019 and consider buying the basics like chairs now. You’ll save between 10% and 25%.

– If a project is set to be completed in the 1st quarter of 2019, it’s a good idea to buy the furniture now. Doing so could provide considerable project budget savings

Buying office furniture at year-end is not always ideal, but did you know if you buy and install office furniture before 12/31, it qualifies for serious tax savings?

– Companies may not write off more than their taxable income.

– The deduction phases out dollar-for-dollar once you have spent $2.5 million.

– You may deduct up to $1 million. 

– Office furniture must be installed by 12/31/2018. We need orders finalized by 12/18/18 in order to install by 12/31/18.

– Equipment purchases over $1 million may qualify for a bonus depreciation. 

– A cash purchase, finance agreement or capital lease all qualify for Section 179.