Purchase your new HootBooth by December 31, 2023 to take advantage of tax deductions for your business!
Take advantage of this tax deduction either by a direct purchase or by financing your HootBooth®.
Check out our Best Sellersfor your next photo booth and save money on your photo booth purchase by taking taking advantage of the Section 179 tax deduction. The Section 179 tax deduction is a great perk for small business owners - and business owners have until December 31, 2023 to take advantage of it!
A section 179 tax deduction is available to businesses that purchase an asset, such as photo booth and allow the business to depreciate (write off) the full equipment cost in the same year it was purchased vs. depreciating the asset over several years. The after tax savings can be in the thousands when buying a business asset such as a photo booth or digital signage product.
Here's how it works:
Say you’ve bought a $10,000 product for your business. Under normal depreciation rules, you would only receive a portion of the cost in deductions each year over its useful life. Now, under Section 179, you can deduct the entire $3,500 from your net income in the first year you own it. So, assuming a 35% tax bracket, you will have a tax savings of $3,500, meaning your photo booth really cost you $6,500.
Also check out this eBook, compliments of CIT Bank, that explains this tax deduction in much more detail!