Acclaro Medical

How to Take Advantage of Tax Code 179

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Section 179 deduction may seem like a complicated tax code, but it is actually very simple. It offers practitioners a viable way to take advantage of this end of year deduction to enhance their practices by adding a valuable medical device at a significant advantage.  

This section of the IRS code can save your business money on capital equipment costs and allow you to invest in the efficiency of your practice by adding a technology that your patients are interested in. By taking advantage of this once per year opportunity, you will be able expand the products and services you offer and boost overall sales and revenue. 

Here is how it works:  

The Section 179 tax deduction allows you to deduct up to $1,050,000 in qualifying equipment from your tax return when you purchase and install the device of your choice during this calendar year – ending 12-31-2022. This deduction applies to equipment purchased for use in your business. The upper cap full deduction your business can claim on qualifying equipment is $2,620,000. 

The IRS introduced Section 179 to incentivize small and medium-sized businesses to invest in assets and equipment that will ultimately boost the economy. When you take advantage of this tax code, you will be able to save money in the year the qualifying equipment was purchased rather than depreciating it over several years. This opportunity can help your business purchase more equipment to boost your profits without taking money away from the tax revenue. 

Qualifying equipment must be tangible and depreciable property: 

  • The business needs to use more than 50% in operations. 
  • The asset is purchased and used in the business the same year it is acquired, and deductions are claimed. 
  • Once you have purchased the qualifying equipment or software, you must begin using it before claiming a tax deduction. 
  • The business must purchase the equipment and not lease it. Leased equipment does not qualify. 

If the equipment purchased is not used for business purposes 100% of the time, the business can only claim for the percentage that is used for the time as long as this percentage is more than 50%.  

If you are considering upgrading or replacing your current laser and light portfolio, Section 179 tax deductions will significantly reduce your costs if you act fast.  

Here is what you need to know about the NEW UltraClear™ all-in-one platform: 

UltraClear is a groundbreaking innovation in skin rejuvenation. Powered by first-of-its-kind cold fiber laser technology, it helps reverse signs of aging, addressing multiple skin conditions in one treatment to help patients look their best—quickly, safely, effectively, and comfortably. Treatments are easily delegated for higher ROI.  

  • Fine lines and deep wrinkles 
  • Sunspots and age spots 
  • Scars, including acne scars 
  • Skin tone and texture 
  • Enlarged pores 

Don’t miss out on this opportunity to add UltraClear to your practice.  

Your representative can walk you through the required documents so you can take full advantage of Section 179.   

For more information, visit the Tax Reform page of IRS.gov or consult with your tax professional.