Did you know that Cloud Service Fees are Tax Deductible?
As we all know one of the benefits of purchasing, leasing or subscribing to a new service provider is that it can have additional benefits like tax savings for your company. If you’re not taking advantage of them, you could be losing part of your competitive advantage of buying them in the first place.
The IRS allows for a tax deduction when you lease rather than purchase a piece of software. So if your company buys a subscription for a Cloud service, those costs are considered deductible in the year in which they occur.
ENet Docs secure cloud solution will store, organize, and secure your documents in our cloud.
What does this mean for you?
- We assume responsibility for updating our products, Windows, SQL Server, etc.
- We perform the OCR, removing one more software package from your environment.
- We perform multi-layered backups nightly and store them in another part of the country.
- We scan all files for viruses to be sure your data is safe.
- No VPN required.
Of course, it goes without saying you always want to perform your own due diligence when it comes to tax laws. For more information visit the IRS Business Expenses Publication Page.