The Protecting Americans from Tax Hikes (PATH) Act of 2015 provides guidelines for practicing dentists looking to take advantage of tax incentives.
Section 179 of the PATH Act applies to dentists looking to build out a new office or make improvements to an existing property held through a lease. This section also details guidelines for writing off purchased dental equipment and technology. The incentive offered for these upgrades and improvements is an allowance for deductions up to $500,000 within a given calendar year. New equipment purchases are capped at $2,000,000 for 2016.
Fourth Quarter Action
We’re at the beginning of the fourth quarter, and it’s definitely not too late to take advantage of these incentives for 2016! Capital equipment purchases are a great way to stay current with new dental technology and equipment, and also a great way to offer your patients top-of-the line imagery and comfort. Smart office remodels are proven to show an increase in patient acquisition and allow you to stay competitive in your field and practice area.
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