October 2004  


Tax Savings That Makes A Profitable
GPS Fleet Management System Even Better!
There's still time to take advantage of a tax deduction that can save you big bucks.


Companies without a GPS fleet management system are losing money weekly, monthly and yearly due to wasteful spending and lost revenue.

A system from FleetBoss, which pays for itself in an average of six months and provides a lifetime of higher efficiency, productivity and profits for your business, is a wise investment. Now, this wise investment got even better.

By taking advantage of a major tax deduction offered by Section 179 of the tax code, you can write-off 100% of the purchase price of your new GPS fleet management system and other business assets that you buy before December 31, 2004.


Section 179 and Your Bottom Line
When you buy assets, like a GPS fleet management solution, that provide one or more years of value for your business, you typically have to spread the deductible depreciation costs of your purchases out over three years. But, thanks to provisions of the Internal Revenue Code Section 179, a GPS fleet management system purchased in this year can be depreciated immediately this year.

For example,

  • If ABC Fleet Service Company outfits its entire fleet with GPS fleet management solution costing $15,000, it can write-off the full purchase price of this equipment using the Section 179 deduction, reducing the company's taxable income by the full $15,000.

A company may deduct up to $102,000 in eligilble Business purchases this year. Business purchases that can be written off rather than depreciated over several years of their useful life, include:

  • Machinery and equipment (such as a GPS fleet management system)
  • Furniture and fixtures
  • Most storage facilities
  • Single-purpose agricultural or horticultural structures
  • Off-the-shelf computer software.

*Please note that this information is provided as a service and should not be construed as tax advice. Please consult with your tax professional for a specific assessment of your tax benefits.

© 2004 FleetBoss Global Positioning Solutions, Inc. All rights reserved.