Whether you’re self-employed or leading a Fortune 500 company, the cost of office furniture – new or used – may qualify as a deductible business expense.
Under current tax law, many businesses can take advantage of Section 179 or bonus depreciation to deduct up to 100% of the purchase price of qualifying used furniture in the year it’s placed in service. That means you may be able to get the tax benefit right away instead of waiting years.
Used furniture is not just a cost-cutter – businesses can also get crucial tax deductions.
Tax policies are ever-changing, but as of right now businesses can deduct 100% of the cost of their used furniture purchases in the year they purchased it from years beginning after December 31, 2024.
Navigating business tax deductions can be extremely complicated. When planning your furniture write-offs, keep in mind what can qualify under Section 179.
What qualifies as deductible office furniture?
- It has a useable lifespan beyond 1 year
- Primarily (and only) used for business purposes
- Regarded as ‘ordinary & necessary’ for the business/industry
- Its purpose and use have been documented for tax records
More office furniture purchases may qualify for the deduction than you’d assume. Tax rules can change, and eligibility depends on your business’s specific situation – so it’s always best to confirm with your tax advisor.
Why choose used furniture?
- Lower upfront cost compared to new pieces
- The same potential tax benefits as new furniture
- Environmentally friendly and sustainably smart
- Stylish, functional options available right away
Ready to furnish your space and maximize potential deductions? Visit our showrooms in Chicago, Milwaukee, and Madison!
OFR has affordable used office furniture and specular brands such as Steelcase, Herman Miller, Knoll, Haworth, Allsteel and more. Interested in learning about the best office furniture brands to buy second-hand? Read our blog here.
Contributor
Share Article
Recent News
Mesh vs. Cushioned Office Chairs: Which Is Better for Your Workspace?
Types of Office Stools Explained: Which Height Is Right for Your Workspace?
Customer Stories
A Modern Chicagoland Office, Furnished for Less
OFR recently completed a project for a mid-sized company’s branch located in village Northwest of Chicago. Led by OFR Account Manager and Principal Owner, Stephanie Durbin, this project expertly blends used furniture from various OFR sourced inventories to create a fully furnished modern office space.
Contact Us How can OFR be your office furniture resource?
Give us a call or fill out a form to start your office furniture project.