IRS Section 179 Tax Deduction - Now is the Time!

Continuing on the topic we began earlier in the week, today's post elaborates in more detail the benefits and parameters of the advantagous IRS Section 179 Tax deduction which is slated for considerable changes next year.

With that being said, It is hard to believe we are already nearing the end of 2013. In addition to making plans for the forthcoming holidays, reviewing practice financials now will better prepare you for the fast approaching close to the year. Whether you have an accountant who assists with your tax planning strategies or if you wear that hat too, now is the time to review 2013 before it is too late.

One of the most available, and also the most forgotten, benefits to a practice is the Section 179 Deduction. Last year, there was a lot of press about the possibility of these credits being greatly reduced if not removed from the tax code. Instead, H.R.8: American Taxpayer Relief Act of 2012 was passed in an effort to provide tax relief for small businesses. This deduction allows for any qualifying purchases, such as a NEW Digital Panoramic Imaging System, to be deducted entirely in the year of purchase. For 2013, the Deduction Limit was raised to $500,000. This limit is scheduled to reduce to only $25,000 for 2014!

In other words, if you are anticipating income for 2013 and are in need of a digital panoramic machine, now is the time to buy! Contact us at 800-654-2027 or info@pancorp.com and we will prepare a personalized proposal and ROI outline showing you all the benefits of buying in BEFORE 2013 ends on December 31st!