You and your team work hard all year, taking care of clients and projects on time and on budget. You’ve put your office through its paces, and maybe it’s starting to look a little… tired.

Save Money on Your Taxes with Custom Office Furniture

Doesn’t your company deserve a refresh?

Good news, especially if you’ve made a profit this year: You can deduct new office furniture from your taxes.

Most businesses don’t take full advantage of tax deductions, and updating your office furniture can be a clever way to invest in your business, improve office morale, and save on taxes.

How does it work?

Office furniture is a necessary business expense and is considered an investment in the company (ask anyone with an ergonomic chair about their boost in productivity and reduction in chiropractic visits).

As an asset, furniture also qualifies for a 100% bonus depreciation write off, which can mean significant savings.

Even better, your office improvements don’t need to end with just a new desk.

Painting office walls or replacing the floors can also be tax-deductible and qualify for the Section 179 tax code, so the ceilings are the limit when it comes to redoing your office!

Claiming office furniture, interior design, and depreciation means significant tax savings, but it can also be complicated.

We recommend consulting with your tax advisor. IRS Tax Code Section 179 allows businesses to deduct the full purchase price of office furniture, up to $1,160,000, which means necessary furniture like chairs, desks, cubicles, cabinets, tables, lounge chairs, shelving, and artwork can help your business save big.

Example:

If your business is in the 35% tax bracket, you can buy $100,000 worth of office furniture in 2023 and deduct 100% of that under Section 179 of the Tax Code. That yields a tax savings of $35,000, which means a net cost of only $65,000! Space planning might be a perfect Q4 project.

The new year is fast approaching, but it’s not too late to invest in office improvements and save money on your taxes.