If you’ve been on the fence about purchasing new digital equipment for your practice, this tax incentive might be all the justification you need to make the decision.
Section 179 of the IRS tax code is designed to support small businesses by giving them financial incentive to invest in their business and support the manufacturing sector that serves them. It is also intended to spur economic growth. With Section 179, business owners can deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. For 2016, that means up to $500,000, which is a large increase over previous years and can really make a difference to your bottom line.