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Benefit From Section 179
Instead of “deducting” qualifying equipment or software over time - according to a set depreciation schedule - Section 179 allows businessed to deduct the full purchase price during the first tax year.
What This Means:
With the depreciation deduction schedule you save 7% the first tax year but with Section 179 you save 35% the first tax year. That’s more cash flow for your company right now - when you need it.
Section 179 Tax Savings Explained
If you are a small to medium sized business owner with your own medical practice, there has never been a better time to invest in equipment and software. Thanks to Section 179, qualifying companies can deduct up to $500,000 for tangible goods purchased before the end of year. This includes new and used machinery and software. The main limitation is that the equipment or software must be purchased and put in use by December 31, 2017.
POTENTIAL SAVINGS
How does the Section 179 Tax Deduction work?
Here is an example: XYZ Company has revenues of $900,000 this year. After standard deductions, the taxable amount is $450,000. To take advantage of the Section 179, the company purchased the maximum allowable dollar amount of equipment that they could deduct, which for 2017 is $500,000. XYZ Company can now write an additional $150,000 off the bottom line taxable amount of $450,000 as a savings.
 
This savings can be viewed from two different perspectives:
1. It is a less taxable amount to the IRS.
2. More importantly, it is a significant savings on the equipment necessary to make the office run more efficiently.
Total Revenue For 2017 $900,000    
Deductions for 2017 $125,000    
Taxable Revenue for 2017 $775,000    
Capital Equipment Purchased for 2017 $500,000    
Section 179 Tax Credit for Capital Equipment Purchase $150,000    
Section 179 Tax Credit – Taxable Revenue $775,000 -$150,000 =$625,000
To learn more about this deduction, visit www.section179.org, and to calculate your potential savings, check out this Section 179 Tax Deduction Calculator.*
*Please note, the above is just an example. Consult with your tax advisor to find out how much your business could save with the Section 179 Tax Deduction.
Time Is Running Out!
Get your equipment and software before it’s too late! Section 179 is set to expire at midnight on...
DECEMBER 31, 2017
 
Section 179 & Financing Go Hand In Hand
Section 179 adds profit directly to your bottom line. Financing conserves cash, preserves credit and can improve cash flow. Taken together, Section 179 and equipment financing represent a very powerful financial strategy.
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