There are 32 more days left in 2011 to take advantage of the Small Business Job Act of 2010. This is called Section179 Tax Deduction, and applies to both new and used equipment, purchase by small business. According to Section179.org it’s explained as follows:
Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. Government to encourage businesses to buy equipment and invest in themselves.
If you are a private practice physician looking to add ultrasound to your practice, now is the time to take advantage of this tax break before the clock runs out. Examples of in-office ultrasound exams include AAA screenings, CIMT exams, Women’s health, pain management, and endocrinology. Concierge medicine has grown to 5,000 practitioners and according to the American Academy of Private Physicians, embraces the philosophy of “improving the quality of patient care and care coordination, strengthening the bond between patients and their physicians, and empowering patients as healthcare consumers.” Ultrasound is an excellent tool to improve patient services.
Leasing is an option whether purchasing just ultrasound equipment or one with an ultrasound service contract. Most systems come with a warranty, but having the extra insurance once the warranty expires can not only save you money, but it can help prevent a down system so that patient care isn’t compromised. Leasing is flexible and depending on which program you go with, you can receive the following benefits:
- No money down
- Defer payments
- Generate revenue before your first payment is due
- Roll equipment upgrades into lease payment
Contact United Medical Instruments, Inc. today to learn about equipment, service, and lease options while you still have time to use the Section179 tax break!