The end of the year seems to be a time of spending, but in case you haven’t heard, there are multiple money-saving opportunities for businesses this holiday season too.
Bill is working on a critical customer proposal when his computer screen flashes to the "Blue Screen of Death." He frantically calls the IT Help Desk for troubleshooting and they discover the problem is a hardware issue. His computer will be out of commission until replacement parts are ordered, shipped, and installed. How is he going to get this proposal (and all of the other tasks he needs to do) done if he doesn't have a working computer anymore?! Read on...
Optimize your business's IT function, understand proper - and cost effective - IT staffing, and learn from the mistakes others have made.
Operating a business is expensive. Between payroll, materials, taxes, equipment, legal services, etc., it’s no surprise that every business owner would like to lower their costs to improve their margins. It seems like almost every day, a business executive tells me that they want lower IT costs without sacrificing service. There are four key areas I tell business leaders to check first to ensure they are maximizing the results from their IT investment.
Every week, I have conversations with business executives who want help reducing their Information Technology (IT) costs and risks. Some of the main concerns they bring up are around their data – reducing their off-site storage costs, organizing their files, and making sure the right people have access to the right data. Since most companies’ operations rely heavily on technology, these are huge concerns for business leaders.
Now is the time that business owners and financial executives meet with their CPAs to evaluate their company’s tax position and plan next year’s budget. Typically, information technology is one of the largest annual investments a business makes. At a time when cost reduction is the number one priority among businesses, here are a couple tax deductions and special offerings that will help companies find extra cost savings this year. Save Money Through Tax Deductions In 2010 the federal government updated the Section 179 Deduction, a tax credit that allows businesses to accelerate their deductions for depreciation. Under Section 179, businesses can fully write off their acquisitions made during that tax year. Businesses can buy or lease up to $500,000 in machinery, computers, software, office furniture, vehicles, or other tangible goods, and depreciate it at one time. Normal depreciation requires a business to depreciate assets over a period of time, but with Section 179 you can take the full deduction in the same year it was purchased. For small businesses this deduction is especially useful because it helps them improve cash flow and lower their tax burden.