Acquiring new medical equipment is a significant investment for anyone. Fortunately, Section 179 of the Internal Revenue Service Tax Code offers an excellent opportunity to receive substantial tax relief to upgrade your imaging equipment. In this article, we’ll explore how Section 179 tax deduction is utilized when purchasing a SMART-C® Mini C-Arm to revolutionize your diagnostic and surgical capabilities. Imagine doing more in the clinic faster without having to send patients to imaging or waiting to do minor procedures at an ASC. That’s the power of the Smart-C.
What is Section 179?
Section 179 is a provision in the United States tax code that allows businesses to deduct the full purchase price of qualifying equipment and software in the year it is placed into service, rather than depreciating the cost over several years.
By using Section 179, businesses can reduce their taxable income and receive immediate tax savings, making it an attractive option for investing in and upgrading necessary equipment while benefiting from valuable tax relief.
Leveraging Section 179 for Tax Relief
In 2023, the Section 179 deduction limit has been raised to $1,160,000 ($80,000 increase from 2022). Your business can now deduct the entire cost of qualified equipment up to a total equipment purchase limit of $2.8 million.
Investing in the SMART-C®, has transformative impact on medical practitioners by improving patient care and increasing workflow efficiency. This tax advantage provides a valuable opportunity for hospitals, surgery centers, and clinics to receive substantial tax relief while acquiring worlds only ultra-portable battery powered C-arm.
** Consult with Your Tax Advisor**
To ensure compliance and maximize tax benefits, it is crucial to consult with a qualified tax advisor or accountant. They can guide you through the Section 179 deduction process, help determine eligibility, and provide personalized advice tailored to your specific financial situation.