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    Want to Deduct Up to 1 Million in 2018? Install a Security System

     Wednesday, August 29, 2018 | Virginia Beach, VA
    Tax Break

    Want to Deduct Up to 1 Million in 2018? Install a Security System

    There is a section of President Donald Trump's new tax law that many business owners may not know about.??

    Under the?tax plan, small and medium-sized business owners can write off 100 percent of their fire protection, alarm?and?security system purchases for existing commercial buildings.?

    That means they can expense up to $1 million. That's up from $500,000. Previously, only repairs could be deducted in the same tax year.?And security and fire protection services were excluded from deductions, forcing businesses to depreciate the cost.

    The revision now includes fire alarms,?fire protection systems, and security systems as a qualifying purchase, according to the?Security Industry Association. This is great for small to medium sized businesses. This new law gives an incentive for those business owners to make the safety and security upgrades. Before they may not have been able to afford it.?

    This change is expected to lower the overall cost of installing a security system significantly.?

    Having the proper security system is vital to the health and safety of employee and customers. According to the Occupational Safety and Health Administration, 2 million workers are victims of workplace violence each year.

    It is extremely important to invest in a company’s infrastructure, which increases profitability and employee protection. The deterrent measures that are available can not only save lives, but also money for companies.

    We are more than half way through the year and now is the time to upgrade or purchase a security system.

    For more information, feel free to contact us at axisge.com.

    Disclaimer: Axis is not an accounting firm and any tax questions should be directed to an accountant.

    How can we help? Request an assessment today by giving us a call at 757.857.4777
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