Who doesn’t like taking advantage of a tax break? We seem to be looking for them all the time. Whether it’s for your kids or your payroll; you name it, we’ll take it! On that note, time is running out on taking advantage of the Section 179 tax deduction, which allows businesses to deduct up to $139,000.00 of an eligible medical imaging equipment purchase.
If you don’t take advantage of this deduction before January 1, 2013 (which is less than 40 days away!) you will be missing out on $114,000.00 in deductions.
No joke. After January 1, 2013 the maximum deduction drops to a mere $25,000.00!
Here is an example from the IRS website to help put your possible savings into perspective:
The IRS website also provides a helpful list of qualifying equipment.
Don’t be the one standing in front of your MRI or CT thinking, “How did I miss out on the opportunity to upgrade my equipment?” Contact us today to discuss your upgrade options and how you can benefit from this deduction while there's still time.
Meet the author: Trish Payne