Section 179- A Primer for Year End! (EP02)
from The Beacon-Podcasting for Dentists Hosted by David Darab, DDS, MS, MBA
The Section 179 deduction is a small business tax incentive that allows practices to immediately deduct up to the full purchase price of equipment – with limitations – without having to depreciate the full deduction over the useful life of the asset usually 5 to 7 year. The claim that it’s an automatic benefit to all customers is an inaccurate and misleading statement, without first knowing what the anticipated financial and tax impact would be to the doctor. This episode explores Section 179 greater detail reviewing a potential "tax trap" in later years. https://www.section179.org/ Disclaimer: This podcast is for information only. Please always consult your legal, tax and financial professionals for advice regarding your particular situation.
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The Section 179 deduction is a small business tax incentive that allows practices to immediately deduct up to the full purchase price of equipment – with limitations – without having to depreciate the full deduction over the useful life of the asset usually 5 to 7 year. The claim that it’s an automatic benefit to all customers is an inaccurate and misleading statement, without first knowing what the anticipated financial and tax impact would be to the doctor.
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