It’s hard to believe that 2021 is nearly over. We have less than two months left before we turn the page to the new year. This means that business owners have just a few weeks left to make any purchase decisions that could positively impact their 2021 tax bill.
There are several business technology deductions that companies can take, and many of these also qualify for a bonus 100% depreciation deduction. This means that you could deduct the cost of the purchase plus, 100% of the depreciation allowed in a few short months when you do your 2021 taxes.
Now is the perfect time to take a look at increasing firmware protection with new hardware purchases, fully powering your work-from-home team, and more.
The standard categories for technology deductions include:
- Hardware (computers, servers, networking equipment, etc.)
- Security systems
- “Off the Shelf” Software
- Communications equipment
- Office equipment
We’ll go through several popular technology upgrades that companies are making to improve their capabilities and strengthen their defenses against cyberattacks.
Should you need help with any of these decisions or with choosing the best equipment value for your money, Connect2Geek is here for you!
Security Cameras & Digital Door Access
Security systems have become much more accessible to small businesses since the cloud came along. You don’t need a ton of wires installed throughout the building, and you can keep an eye on your property from anywhere with your smartphone.
Beyond security cameras and doorbell cameras, digital door access is a cost-saving upgrade and one that can improve security. Using digital access instead of keys means you don’t have to have locks changed when an employee unexpectedly leaves. You also don’t have the problem with keys getting lost.
Digital access systems give you the ability to easily grant or revoke an access code remotely and keep track of who is accessing sensitive areas of your building.
Remote Team Devices & Peripherals
The remote workforce is here to stay, but many of them are still lacking the essentials that they enjoyed when in the office. Approximately 56% of employees are using personal computers to work from home. This is a big security risk because it means personal and work information co-mingling. Plus, an employee’s home PC might not have the performance needed for certain work applications, hurting productivity.
Survey your remote team and ask what types of equipment would improve their ability to work. The end of the year is the perfect time to outfit them with the things they need since you’ll be able to deduct the cost from your taxes in a few months.
Your network is the heart of your office technology infrastructure. If it’s not optimized and is slow or unreliable, it can hurt everyone’s productivity. Look for any potential network improvements you can make that will increase speed and enhance network experience.
Some ideas are:
- Wi-Fi 6 router
- Mesh network
- Ethernet cabling where it makes sense to reduce wireless congestion
Upgrades to On-premises Software
If your company has been running an older version of software on your server, then you may want to consider upgrading to the latest version before the end of the year.
Software is also deductible on your business taxes, as long as it’s “off the shelf,” meaning that it’s not custom designed just for your company.
Being on outdated software increases your security risk of a breach and can also hamper your team because they don’t have the latest features to work with.
Video Conferencing A/V Devices
Video calls and meetings have now become the norm due to the pandemic drastically changing how we interact with the rest of the world.
If your video conference experience is fraught with dropped connections or fuzzy audio, then it hurts meeting productivity and can make your company look bad to a potential client.
Soundbars and other dedicated conferencing A/V equipment can greatly improve meeting quality, and there are many great affordable options.
Replace Older Computers
Look over your computer inventory. Do you have any reaching the 5-year mark? Once a PC gets over 4 years, it starts to go downhill fast, and the cost of maintenance soon outweighs the cost of buying a newer model.
Upgrade any older PCs that you have, including any that may not meet minimum requirements to upgrade to Windows 11. Computers with the new OS installed are already available, so you could upgrade at the same time as renewing your hardware.
Get Help Upgrading Your Technology Infrastructure
Connect2Geek can help your Treasure Valley area business make the right decisions for upgrading your technology infrastructure. We can look at the tools you use now and tell you which upgrades would bring your business the most value.
Schedule your free consultation to learn more today! Call 208-468-4323 or reach out online.