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annual office furniture price increasesPrice 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

 

 

 

 

Section 179 Tax Deduction (The Good News)

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.

 

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