September 2018
The Tax Cuts and Jobs Act, enacted in 2017, could make now an opportune time for you to purchase new equipment for your medical practice.
Among other things, the new law expanded the availability of business deductions under Section 179 of the IRS tax code, which allow taxpayers to deduct the cost of certain types of property taxes as an expense. Previously, businesses could fully deduct up-front the cost of up to $500,000 in eligible business equipment purchases; the deduction began to phase out on transactions over $2 million.
