Image courtesy of Arvind Balaraman / FreeDigitalPhotos.net

Are you familiar with the section 179 deduction?  Essentially you can subtract the cost of capital equipment like a 3D printer/scanner from your profit and reduce your tax bill.  If you’re taxed at a 36% rate it’s like getting your new printer/scanner at a 36% discount.  Now the limit has been reduced from $500,000 in 2013 to only $25,000 in 2014, but that’s still more than enough to add a new toy to your business or start a new business.  Balboa Capital put together a great YouTube video explaining the process.