Flexible financing for the equipment your practice needs.
Section 179 - Expensing Allowance increased to $500,000
Congress extends the amount that small businesses may write-off for capital expenditures:
Business owners who acquire equipment for their business: machinery, computers, and other tangible goods, usually prefer to deduct the cost in a single tax year, rather than a little at a time over a number of years. The Small Business Jobs Act of 2010 increases the maximum amount a taxpayer may expense under IRS Section 179 to $500,000 and increases the phase out threshold amount to $2 million for tax years beginning in 2010 and 2011. The rules are designed for small companies, so the $500,000 deduction phases out when a business purchases more than $2,000,000 in one year. (Companies cannot write off more than their taxable income). The Tax Relief Act of 2010 increases the expensing allowance for 2012 to $125,000 with a phase out threshold of $500,000 (The dollar and investment limits would have reverted to $25,000 & $200,000 respectively for 2012 without the new law).
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