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Deadline for Equipment Deductions: December 31
Posted: October 22, 2009
Section 179 of the Internal Revenue Service (IRS) tax codes offers equipment deductions in 2009 under the American Recovery and Reinvestment Act, something spa owners are eligible for if they invested in equipment this year.
Salon and spa owners who upgraded equipment and lights during 2009 can write off 100% of the cost under the American Recovery and Reinvestment Act (www.section179.org).
“Section 179 of the IRS Tax Code allows small businesses to deduct, for the current tax year, the full purchase price of financed or leased equipment that qualifies for the deduction,” explains Blair Hopper, president and CEO of Freestyle Systems. “The program enables salon owners to improve and reinvest in their businesses to keep them competitive and successful,” he concludes.
Salon owners interested in applying for the deduction must do so by Dec. 31, 2009, to qualify.
Freestyle Systems is a technology provider in the beauty industry that offers patented health-conscious solutions to salon and spa owners that enhance the overall experience for both professionals and consumers. Using patented green technologies, Freestyle Systems addresses many of the long-standing challenges facing the beauty industry such as medical risk factors, overall safety, cleanliness and design. The company was founded in 2003 and is based in Shrewsbury, Massachusetts.