JEFF LAVOIE - PATTERSON DENTAL
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section 179

section 179 tax benefit

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What is Section 179?   Directly from Section179.org (please visit page for  most up to date info)
Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It's an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.

Section 179 always expires at midnight, December 31st. So to take advantage of Section 179 this year, you must buy (or lease/finance) your equipment, and put it into use, by December 31st of this year.

CLICK HERE TO VISIT SECTION179.ORG
How Section 179 Works?
When your business buys certain items of equipment, it typically gets to write them off a little at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example).
Now, while it's true that this is better than no write-off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it.

In fact, if a business could write off the entire amount, they might add more equipment this year instead of waiting over the next few years. That's the whole purpose behind Section 179 - to motivate the American economy (and your business) to move in a positive direction. For most small businesses, the entire cost can be written-off on your tax return.
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Section 179 at a Glance (please visit section179.org for complete up to date info)
Jan 4, 2019 –  Section 179 is one million dollars for 2019, as stated in H.R.1, aka, The Tax Cuts and Jobs Act.The deduction limit for Section 179 is $1,000,000 for 2019 and beyond, while the limit on equipment purchases remains at $2.5 million.   Further, the bonus depreciation is 100% and has been made retroactive to 9/27/2017. It is good through 2022. The bonus depreciation also now includes used equipment.

sECTION 179 CALCULATOR

CLICK IMAGE TO GO TO CALCULATOR AND CALCULATE YOUR POTENTIAL SAVINGS

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​Jeff LaVoie 
Patterson Dental

Building Healthy Dental Practices Since 2004
Jeffrey.Lavoie@pattersondental.com
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  • Home
    • ABOUT ME >
      • Giving Back
    • Blog
    • Contact Me
  • BUSINESS OF DENTISTRY
    • My Approach
    • Healthy Practice Model
    • Healthy Practice Articles
    • Practice Analysis
    • Aprio - Emplyee Retention Credit
    • Practice Transitions
  • NEW Products
    • NEW! Monet Laser Curing Light
    • NEW! HybenX
    • NEW! - DIO NAVI IMPLANTS
    • COURSE - Endo
    • Dry Shield
    • Covid Products >
      • Aerosol Suction
  • Equip & Tech
    • Office Design
    • The High Tech Practice
    • CEREC
    • 3D Cone Beam
    • SOLEA LASER
    • Section 179
  • EVENTS & EDUC
    • Eaglesoft >
      • Data Backup & Security
    • CEREC >
      • CEREC Education
    • Sirona 3D Education
    • Cerec & 3D Integration
    • Sleep Apnea
    • MEDICAL BILLING
    • CE Courses
  • Compliance
    • Water Line Maintenance
    • Ultrasonic Cleaner Foil Test
    • Waste Management