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Category: Technology As A Service (TaaS)

End-of-Year Technology Checklist

As the year comes to a close, we at Farmhouse Networking want to ensure that your business technology is in optimal shape for a successful transition into the new year. We’ve put together a checklist to help you wrap up the year on a technologically high note.  Some of these items we will work on together, and others will be the responsibility of your team. 

Items we will work on together:

  • Asset Inventory: We have recently conducted a thorough review of your technology assets, including hardware, software, and networking equipment. We updated your inventory list to account for any additions or retirements of assets throughout the year. You should be receiving an invite to our new system called Narmada which gives you constant access to our replacement recommendations.
  • Password Security: Prompt your team to implement multi-factor authentication for critical systems and applications. This will help to enhance password security. This is not something that should be put off till later. Get it setup on every site possible. It can be made easier with a password manager. 
  • Software Updates: We ensure that standard software applications, operating systems, and antivirus programs are up to date with the latest patches and updates. If you have industry specific software it would be a good time to check with them on the status of your support contract and if there are needed updates. 
  • Data Backups: Verify that your data backup systems are functioning correctly. Test the restoration process to confirm that your business can recover essential data in the event of a disaster. If you don’t have backups in place now is the time to get this critical technology in place. 
  • Security Assessment: Conduct a Security Risk Assessment to identify and address potential vulnerabilities. Ensure that your cybersecurity measures are up to date to protect against evolving threats. Many companies don’t realize that current compliance standards require this. 
  • Employee Training: Provide cybersecurity training to employees to reinforce best practices and raise awareness about potential threats. This should be mandated by your team’s management.

Items you should work on with your team:

  • Subscription Reviews: Review and audit all software and service subscriptions to ensure they align with your business needs. Cancel any unnecessary subscriptions to optimize costs.
  • Budget Review: Evaluate your technology budget for the year and identify any areas where adjustments may be needed for the upcoming year.
  • Technology Roadmap: Develop or update your technology roadmap for the coming year, aligning it with your business goals and objectives.
  • Compliance Check: Ensure that your technology practices comply with industry regulations and standards applicable to your business.
  • Communication Plan: Communicate any upcoming changes or upgrades to your team to ensure a smooth transition without disruptions.
  • Policies & Procedures: Review current documentation to make sure that it includes all needed items like disaster recovery, incident response, computer use, BYOD, and AI usage. 

Once you have determined some of your goals and budget, we should meet to discuss the implementation plan for any changes. We will be contacting you in February to setup our next Semi-Annual Business Review (SABR) meetings to discuss this years plan. 

If you have any questions or need assistance with any of these items, please don’t hesitate to reach out to our support team. We’re here to help you navigate the year-end process and ensure a seamless start to the new year.

End-of-Year IT Tax Deductions for Business Owners

It’s that time of year, business owners need to start thinking about tax deductions and ways to maximize profit protection. One area not to be overlooked is IT expenses since IT plays a crucial role in every business. The good news is that many IT expenses can be deducted from your taxes. From hardware and software purchases to cybersecurity measures and cloud services, there are several essential IT tax deductions that can help you lower your tax bill and keep more money in your profit column.

IT Tax Deductions for Business Owners

As a business owner, it is crucial to recognize the importance of taking advantage of IT tax deductions before the end of the year. These deductions can significantly impact your bottom line. By deducting IT expenses, you are not only reducing your tax liability but also creating funds to re-invest in the growth of your business and upgrading to the latest technology, which positions your business for long-term success.

IT Tax Deductions to Maximize Your Savings

Take advantage of these IT tax deductions to maximize their profit savings:

Software and Hardware Expenses: Deducting the cost of industry specific software and hardware purchases is an excellent way to save on taxes. Whether you invested in new computer systems or upgraded your existing software, remember to include these expenses in your deductions as capital expenditures. Profit savings can be compounded by taking the amount saved through IT tax deductions and spending it on further software and hardware purchases.

Cybersecurity Measures: With the increasing threat of cyberattacks, investing in cybersecurity measures is crucial. These expenses can also be deducted from your taxes. From firewalls to antivirus software, make sure to claim any cybersecurity investments you have made throughout the year.

Cloud Services: Many businesses have moved to using cloud services for their storage and daily operations. These operational expenses are also eligible for tax deductions. Whether you use cloud computing, backup services, or cloud-based software, remember to include these costs in your deductions.

By focusing on these essential IT tax deductions, you will minimize your tax liability and position your business for success in the coming year.

Consulting with a Certified Public Accountant

While it’s important to have a basic understanding of the IT tax deductions for your business, it is equally important to consult with a certified public accountant. A knowledgeable CPA can provide you with personalized financial advice and guidance based on your company’s unique situation.

Tax laws and regulations are constantly changing, and it can be challenging to keep up with all the updates. By working closely with a CPA, you can stay updated on the latest deductions and strategies to maximize your savings while staying compliant with the law. They can review your financial records, identify missed deductions, and help you make informed decisions that positively impact your bottom line.

Remember, seeking advice from a tax professional will not only help you optimize your profit savings but also give you peace of mind knowing that your tax returns are accurate and in line with the regulations.

Keeping Detailed Records

One essential practice for maximizing your IT tax deductions is keeping detailed records of your IT expenses. Maintaining accurate and organized records throughout the year can help you claim all eligible deductions at tax time.

Start by creating a system to track and categorize your IT expenses. This can include items like software and hardware purchases, IT services, website development costs, and data storage fees. Keep receipts, invoices, and any supporting documents for each expense. Having detailed records allows you to easily identify and calculate eligible deductions. It also provides evidence and documentation if you ever face an audit or need to justify your deductions to the IRS.

Consider using accounting software or cloud-based platforms to streamline the record-keeping process. These tools can help you track expenses, generate reports, and ensure accuracy in your financial records. By maintaining detailed records of your IT expenses, you not only ensure that you are taking full advantage of available deductions, but you also create a solid foundation for your overall tax strategy.

Utilizing Section 179 Deductions

Section 179 of the tax code allows businesses to deduct the full purchase price of qualifying equipment and software purchased or financed during the tax year. By utilizing Section 179, you can deduct the entire cost of eligible technology investments in the year they are purchased. This deduction can help reduce your overall tax liability, allowing you to maximize your profit savings.

To qualify for Section 179 deductions, the equipment or software must be used for business purposes more than 50% of the time. This deduction is particularly beneficial for businesses investing in technology upgrades or replacements, as it encourages the adoption of new and improved IT systems. Be sure to consult with a tax professional to determine the eligibility of your IT investments for Section 179 deductions and to ensure you are maximizing this deduction for your business.

Bonus Depreciation for IT Purchases

Business owners can also benefit from bonus depreciation for their IT purchases. Bonus depreciation allows businesses to deduct a percentage of the cost of qualifying assets in the year they are placed in service. Under the Tax Cuts and Jobs Act, businesses can take an 80% bonus depreciation deduction for qualified property acquired and placed into service in 2023, then depreciate the remaining 20% over the course of several years.

To qualify for bonus depreciation, the property must have a recovery period of 20 years or less and be purchased for business use. This deduction is particularly valuable for businesses that are investing in new IT equipment or upgrading their existing technology infrastructure.

By timing your IT purchases strategically, you can take full advantage of bonus depreciation and significantly reduce your tax liability. However, it’s important to note that bonus depreciation is subject to change based on tax laws and regulations, so consulting with a CPA is crucial to ensure compliance and maximize your savings.

Research and Development Tax Credit

While bonus depreciation and Section 179 deductions are great for maximizing your tax deductions when it comes to IT purchases, there is another valuable tax credit that often goes unnoticed – the Research and Development (R&D) tax credit.

The R&D tax credit is designed to incentivize businesses to invest in innovation and development activities. Many business owners mistakenly believe that this credit is only applicable to scientific or technological research. However, the R&D tax credit is much broader than that and can apply to a wide range of industries and activities.

To make the most of the R&D tax credit, it’s important to keep detailed records of your qualifying activities and expenses. Consult with a tax professional who specializes in this area to ensure that you are maximizing your tax savings while staying compliant with the IRS requirements.

To make best use of your IT tax deduction spending, contact us to discuss new purchases and upgrades. 

The Battle of vCIO vs. Break-Fix Services

In the ever-evolving world of IT support, two strategic approaches have emerged to address the needs of businesses – vCIO (Virtual Chief Information Officer) services and break-fix services. Each of these approaches has its own merits and drawbacks, making it crucial for businesses to carefully consider which option best aligns with their goals and IT requirements. So, let’s dive into the comparison between vCIO services and break-fix services and find out which one takes the crown!

vCIO Services: Unleashing the Power of Proactive IT Management

The vCIO model offers businesses a cost-effective and strategic solution to IT management, delivering benefits far beyond simple problem-solving. Here’s a breakdown of what vCIO services bring to the table:

  1. Strategic Technology Planning: A vCIO provides a long-term roadmap for your IT infrastructure, aligning it with your business objectives. They assess your current technology landscape, analyze potential risks, and develop a comprehensive IT strategy to ensure your technology infrastructure drives success.
  2. Proactive IT Monitoring and Management: By constantly monitoring your systems, a vCIO can detect and address issues before they turn into full-blown disasters. They implement proactive measures, such as 24/7 system monitoring, patch management, and security audits to keep your IT environment optimized and secure.
  3. IT Budgeting and Procurement: A vCIO helps you streamline your IT budget by aligning your investment with your business goals. They provide insights into cost-effective technology solutions, negotiate contracts with vendors, and manage IT procurement to help you make informed decisions while optimizing your spending.
  4. Technology Vendor Management: Collaborating with multiple technology vendors can be time-consuming and complex. A vCIO acts as a single point of contact for all your technology vendors, managing relationships and ensuring smooth coordination between various stakeholders.

Break-Fix Services: The Traditional Firefighter Approach

Break-fix services have long been the go-to approach for businesses seeking IT support on an as-needed basis. Here’s a closer look at what break-fix services bring to the table:

  1. Issue-Specific Support: Break-fix services are designed to address specific IT issues as and when they arise. This approach involves fixing problems after they occur, reacting to incidents rather than proactively managing your systems.
  2. Limited Scope of Support: Break-fix services typically focus solely on resolving immediate technical issues. While they can provide quick fixes, they do not offer strategic planning or ongoing support to help prevent future issues or optimize your IT infrastructure.
  3. Variable Costs: Break-fix service costs can be unpredictable, as you are billed per incident or hourly basis. This makes budgeting and financial planning more challenging, especially if you encounter frequent or recurring IT issues.
  4. Less Focus on Prevention: With break-fix services, the emphasis is on remedying existing problems, leaving behind the potential for other underlying issues to remain undetected, ultimately leading to more costly and time-consuming problems down the line.

The Verdict: vCIO Takes the Throne!

While break-fix services may have their place in certain scenarios, vCIO services offer a more comprehensive approach to IT management, aligning your technology with your business goals and providing ongoing support. The proactive nature, strategic planning, and cost optimization provided by vCIO services make it the winning solution for businesses looking to stay ahead of the ever-changing technology landscape. So, without a doubt, the crown firmly sits on the head of vCIO services!

If your company is tired of just calling your IT service company when things are broken, then contact us for vCIO services.

PricewaterhouseCoopers: Those Who Partner with MSPs Outperform Competition

Read this report from PricewaterhouseCoopers based on a survey of over 2,000 business leaders and took it as confirmation of our recent blog post about Why SMBs Need Managed Service Providers (MSPs). Here are some takeaways from the article:

Takeaways:

“Companies that use MSPs for strategic advantage are 1.6 times and 2.4 times more likely to be faster to market as well as more innovative than those focused solely on cost savings, according to the report.”

“Organizations utilizing managed services at a mature level use them to respond more adroitly to changing conditions and potential threats.”

“Most business and IT leaders recognize the pace of innovation is occurring faster than their internal IT teams can absorb. There is always going to be some type of skills shortage. Those skill shortages are ones that MSPs are in the best position to fill.”

If your company is looking to outperform in the marketplace, then contact us to start a partnership.

The Secret Benefits of IT Equipment Lifecycle Management

Equipment Lifecycle Management

In today’s fast-paced business environment, effectively managing IT equipment throughout its lifecycle has become essential. Equipment Lifecycle Management (ELM) refers to the systematic approach of acquiring, operating, maintaining, and disposing of equipment. By implementing an ELM strategy, businesses can maximize the lifespan and productivity of their equipment, while also minimizing costs and downtime. Let’s explore some of the secret benefits of equipment lifecycle management.

Cost Optimization

IT equipment can represent a significant investment for businesses. Through ELM, companies can optimize costs by planning IT equipment updates and replacements in a strategic manner. With a clear understanding of the IT equipment’s lifespan and maintenance requirements, businesses can budget for these costs well in advance, avoiding unexpected expenses that could negatively impacting their finances.

Increased Equipment Efficiency

One of the primary goals of ELM is to maximize equipment efficiency and productivity. By conducting regular inspections, maintenance, and repairs, businesses can identify and address performance issues before they become major problems. Proactively managing IT equipment ensures that it operates at optimal levels, reducing downtime and improving overall operational efficiency.

Enhanced Asset Tracking and Planning

ELM provides businesses with a comprehensive understanding of their equipment inventory. Through proper record-keeping and asset tracking systems, companies can easily identify the location, condition, and maintenance history of each piece of IT equipment. This information enables businesses to plan for IT equipment updates, replacements, or adjustments based on their lifecycle and performance, ensuring that resources are allocated efficiently.

Sustainable and Environmentally Responsible Practices

Efficient IT equipment management is not only beneficial for businesses but also for the environment. By properly maintaining and disposing of equipment, companies can significantly reduce waste generation and minimize their carbon footprint. Implementing ELM strategies, such as equipment reuse or recycling programs, aligns with sustainable business practices and demonstrates a commitment to environmental responsibility.

Effective equipment lifecycle management is crucial for businesses looking to optimize costs, improve productivity, and minimize their environmental impact. By proactively managing IT equipment throughout its lifecycle, companies can maximize its efficiency, extend its lifespan, and ensure smooth operations. Investing in IT equipment lifecycle management ultimately leads to long-term benefits and a competitive advantage in today’s business landscape.

If you haven’t already, contact us to implement an ELM strategy for your business.

Two Great Tastes That Go Great Together

We have decided to make a business change that includes no longer directly selling phone services, but instead we are moving our clients to RingCentral. They are the industry leaders in this type of service and their rates are very competitive. One of their killer features is the Teams integration

RingCentral for Teams – Embedded App

RingCentral for Teams embedded app enables calling from the Teams app to both internal extensions and external numbers. It’s the simplest way to supercharge the phone experience for both end users and IT admins without having to deploy a new app to end users. Most importantly, there’s no need for an added Microsoft calling or E5 license to capture this value. This solution is ideal for organizations that want to:

  • leverage RingCentral’s superior telephony while maximizing the value of their Teams investment
  • avoid the added cost of Microsoft’s calling license

With the RingCentral for Teams embedded app, users access an icon presented in Microsoft Teams. They can then place and receive calls, access voicemails and voicemail transcriptions, and send or receive an SMS or fax. These tools fill critical gaps in Microsoft Teams, transforming it from messaging and video meeting tool to a communications powerhouse. This approach is also a money saver, as it doesn’t require the added cost of a Teams Phone or E5 license.

If your company is currently using Microsoft Teams for communications and want to add the incredible functionality that RingCentral brings, then contact us for assistance.

Zero Trust – Trusted Vendors

This is the second in a series about the concept of Zero Trust, which means in the IT sense that you trust nothing and always verify everything surrounding and connected to your network. Today’s discussion will be on the vendors you purchase network equipment from. 

Trusted Vendors

Trusted vendors are those who supply workstations, servers, routers, switches, power protection, software, and anything else connected to your network. Here are some questions that you should be asking yourself:

  • Do you know who makes your network equipment, servers, computers, and software?
  • Do you know the way to contact their support and have current account access information?
  • Do you have current warranties / support contracts on hardware and software?
  • Is the hardware able to perform at the level needed?
  • Are you purchasing software from those who meets industry standards?
  • If a subscription, how much are you paying and are you on the correct plan for your needs?
  • When is the last time you upgraded your software and hardware?
  • Have you budgeted for the next upgrade?

Take time to think about these questions and decide where changes can be made to better protect your IT investments, or contact us to do the thinking for you.

How to make money back buying IT assets

IT Services Savings - Grants Pass, OR

Farmhouse Networking continues to make strides in providing our customers with the best, most cost effective, and environmentally friendly computing experience possible. Part of that process is what has come to be known as Lifecycle Management. Each piece of hardware has an expected amount of time in which it is cost effective to use and support it. Once this time frame has been exceeded the cost of supporting the device becomes greater than the cost as shown in the following graph:

FHN Lifecycle Management

So the question remains what to do with the old computers when the time comes to replace them. Previously here in Grants Pass, OR we could support a local charity by taking them to Southern Oregon Aspire to have the computers dismantled and hard drives shredded. Now that their doors are closed we are stuck with dropping them off at the local dump, but what if you could make money while being responsible with the environment? 

Farmhouse Networking is now partnering with a company called Arcoa, who do just that. Here is what they do in their R2 rated responsible recycling facility: 

“We help you recover value from retired electronic equipment through responsible methods of reuse and recycling. Resale offers the best potential for value recovery, but the fast pace of innovations in technology and short product life cycles can limit equipment’s potential for reuse. From there, the best option may be to recycle the items in an environmentally friendly manner. We’ve built a robust de-manufacturing process to offer additional options for asset value recovery by disassembling equipment for commodity grade materials, which can be diverted from landfills and be used to create new materials.”

Hard drives will be electronically wiped, magnetically degaussed, or shredded based on need. The rest of the parts will be dismantled and sold with part of the profit returning to your company to help offset the cost of buying new computers. What could be better than making money on the buy?

If your company is heading towards a hardware refresh, then make the environmentally sound choice by contacting us for assistance.

Change is HERE! for Farmhouse Networking

As we work on finishing our 5th year in business, Farmhouse Networking continues to enhance its offering to our clients and improve the way we do business. Each one of these changes is carefully researched and painstakingly implemented to make sure that impact on end-user experience is minimally invasive. Here is a list of the major changes taking place now:

What Changes?

New Customer Documentation: We have been using a new document management system to securely store information about our clients networks, create standard operating procedures on how we specifically care for individual clients, and keep track of passwords for all the things that need securing. This will keep our staff and backup techs apprised of all our customers equipment and standard operating procedures so that things get done right. 

New Maintenance Software: After much market research to improve our current system of auto-magically maintaining customers computers, we found something better. It took some negotiations with them but we got the price down to close to the same, so there will be no increase in price. Just better software to serve our customers with. We can now monitor more of the network and in a deeper way so that there is even less possibility of downtime due to computer issues. 

New Employee: You read that right. Farmhouse Networking has officially contracted with our first employee. The work load has finally reached the point where occasional help from my family is just not enough. Peter deGreyt will start work on Monday, November 11th, 2019. He has previously worked for another local managed service provider and graduated from Southern Oregon University with a degree in business analytics. His first contact with many of you will likely be to input customer information into our new document management system. 

If your company is interested in working with a company that takes IT seriously, then contact us for assistance.

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And God will generously provide all you need. Then you will always have everything you need and plenty left over to share with others. As the Scriptures say,
“They share freely and give generously to the poor. Their good deeds will be remembered forever.”
For God is the one who provides seed for the farmer and then bread to eat. In the same way, he will provide and increase your resources and then produce a great harvest of generosity in you. - 2 Corinthians 9:8-10