Wednesday, July 30, 2014
How Software like the Peachtree Quantum System help in Managing Taxes
Mueller highlighted the importance of implementing a systematic way of tracking these transactions, not only will this save valuable time, but small and medium- scale ventures can also qualify for a Section 179 tax deduction with exemptions of potentially up to $500,000 per entity for 2015. This allows owners to have the costs of capital items be deducted by treating these components as expenses instead of deprecating the items over a period of few years. To this end, tools such as the Peachtree Quantum system (also known as Sage 50) can assist businesses in maintaining important records and backups.