It’s the business tax incentive pot of gold that keeps on giving. Section 179 of the IRS tax code pays your business to invest in itself. In 2021 the deduction limit is higher than ever: $1,050,000. The full purchase price of equipment bought and put in service by December 31 can be deducted under Sec. 179. Moreover, businesses can take advantage of a 100% depreciation bonus on both new and used equipment, if costs exceed $1,050,000 but are less than $2,620,000.
This generous deduction covers a broad range of equipment, including:
- Computers, hardware peripherals, and software, including RFID systems
- Office furnishings, including file storage systems and lockers
- Office equipment
- Tangible personal property used in business
- Property attached to your building that is not part of your building, such as a warehouse rack system
And there’s more good news. If you lease or finance the equipment, the full price is deductible immediately. You may stretch payments over several years, but you get the deduction in Year 1.
Take a look at this example:
There are a few restrictions under Sec. 179. Real estate does not qualify, nor does equipment acquired by gift or from a relative. And the equipment, whether new or used, must be new to you.
Most important: The equipment must be put in service, not just purchased, by December 31.
If you have been considering an equipment purchase, now is the time to act. Vendors with a quick-ship program (like NOS) can deliver and set up new equipment in time for you to put your new purchase into use ahead of the deadline. Grab the Sec. 179 gold and enjoy the tax deduction as well as the benefits of the new equipment.
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It’s customary to thank vets and active military for their service. Now everyone has an opportunity to put those thanks into action via the National Archives’ Citizen Scanning project.
The Archives are enlisting citizens across the country to assist with the colossal task of scanning and tagging the military-related paper documents stored in the Archives. Volunteers in the D.C. area can review and scan documents in person in the National Archives Innovation Hub. Those outside the area can participate remotely as online taggers adding searchable metadata tags to newly-scanned documents.
Documents to be scanned in person come from four categories of military records:
- Compiled Military Service Records, after the Revolutionary War to the Philippine Insurrection.
- Military Pension Files, including affidavits, medical records, and marriage records, from 1783 to 1903.
- Bounty Land Records, including applications, supporting documents, and land grants, from 1790 to 1855.
- Medical Records, including hospital records and reports of medical treatment in military service or military hospitals, after the Revolutionary War through 1912.
Tagging and transcription projects, for remote volunteers anywhere across America, are divided into wide-ranging categories of military history, including:
- Indian Scout pension files
- Buffalo Soldiers pension files
- 20th Maine Infantry Regiment Civil War military service records
- Escape and Evasion Reports from escaped American POWs
Accessibility and security are two reasons the National Archives is undertaking this enormous document imaging project. Scholars, students, and the general public can now access this wealth of information online, remotely. Moreover, the fragile one-of-a-kind original documents are digitally preserved, safe from fire, floods, and pilferage.
These benefits are two of the great strengths of imaging. Imaged documents become instantly available to remote workers – your organization’s team members who are continuing to work from home, for example. Businesses operate with better speed and efficiency when information is readily available to the entire team.
And imaged documents are protected from disasters of every kind. While your business documents may not have the same antiquity as those in the Archives, they are every bit as important to the management of your organization.
Check out the National Archives’ Citizen Missions. You’ll get a better appreciation of the benefits of document imaging, and you’ll have an opportunity to show your thanks to the veterans who helped keep this country safe.
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Every year, RFID technology expands into new business sectors with new applications. No matter what kind of assets your business manages, RFID delivers valuable benefits – asset locating, loss reduction, supply management, and brand authentication.
Here’s a recap of our top RFID stories from this year.
- It’s Hard to Argue with the Data: The ROI of RFID The Mayo Clinic is home to some of the world’s best researchers, trained to collected and analyze data. When they turned their data science to the analysis of their hospital’s RFID system, they found an ROI that would make any accountant smile.
- RFID Links Devices to the IOT The Internet of Things (IOT) delivers essential information to business managers – operations, assets, resources, and clients. RFID links so-called “dumb” devices to the IOT, enhancing the quantity and quality of management data.
- RFID: An Actionable Data Tool for Worker Safety Employees are any enterprise’s greatest asset. RFID’s tracking capabilities can determine efficient task positions and routes, but more important, it keeps workers safe through proximity monitoring and disaster mustering.
- Shortages are the Enemy of Profits. RFID is Your Ally Manufacturing of every type requires a steady supply of materials. Retail requires a steady supply of finished goods. RFID monitors supplies to help managers and owners avoid low inventory and out-of-stocks.
- RFID to the Rescue: Counterfeits Endanger Brands and Consumers Counterfeits damage your brand in two ways: lost sales and lost reputation. Combat the fakes with RFID technology through the supply chain.
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Here at NOS we are big proponents of managing space by managing documents.
We’ve been talking about the benefits of document imaging for quite some time. Here’s a recap of our top stories from this year.
- Are Your Documents Future-Proof? Digital conversion of paper documents offers valuable cost-saving benefits, but it takes the right imaging tech to truly future-proof your documents.
When you digitize your documents, you will:
- Improve information security
- Enhance accessibility
- Simplify compliance
- Increase sustainability
- Save space
There’s really no downside. Talk to a document imaging expert and begin benefiting from better document management.
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Sting operations have to compile a solid body of evidence in order to make a case against criminals. Seattle police were gathering evidence against a gang of toy traffickers recently when RFID helped them prove their case.
The thieves were stealing high-value Lego kits at the direction of a toy shop owner who would then sell the rare Legos at a huge profit. But they made the mistake of stealing some kits from an Amazon brick-and-mortar store. Amazon adds small RFID tags to many items in its warehouses. These tags help them monitor inventory levels and locations, speed up picking, and ensure accuracy. Some of the tagged products, including a number of Lego kits, were sent to one of Amazon’s storefronts.
And some of those RFID-tagged Lego kits mysteriously ended up at the toy shop.
The sting began with an undercover police officer offering a prized Baby Yoda Lego kit to the shop owner, indicating it was stolen. The shop owner eagerly bought it from the officer. Immediately the shop was raided, and all the toys were seized. But how could the police prove that any of the other seized Lego kits were stolen? The RFID tags, of course.
Thanks to the RFID inventory tracking system, it was clear that the kits had been in an Amazon warehouse, then moved to the Amazon storefront. The store does not use doorway RFID readers, but its checkout scanners had no record of the kits being sold. Unquestionably they had been stolen, and they had ended up on the criminal toy store’s shelves. Arrests were made, and the case is pending.
Retailers have been adding RFID tags to store stock for many years. The large tags and doorway readers discourage shoplifting. But the Baby Yoda case shows how RFID establishes provenance – the origin of a tagged item – and tracks its movement as it changes hands. This powerful capability has been put to use in everything from fine wines to pharmaceuticals. Retailers and brands can be confident that what they’re selling is authentic, and the chain of custody is clean. Even if their stock becomes part of a law enforcement sting, they’ll know they are in the clear!
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