Take Advantage of Section 179
DEDUCT 100% TOTAL COSTS OF A NEW MiniCAT!
Invest in your practice and maximize your annual business equipment purchase by taking advantage of IRS Section 179.
According to IRS Section 179, you may qualify to deduct the TOTAL cost of a new or used MiniCAT purchased or financed this tax year. Businesses can deduct up to $1,220,000 on their capital equipment purchases in 2024. This includes in-office CT systems like the MiniCAT IQ+.
In order to qualify for the current tax year, finance or purchase equipment and put it into service by December 31, of this year.
Find Out How Much You Can Save With Our Calculator!
Take advantage of these huge tax savings opportunities for your practice. Contact us to find out how much you can save with our calculator. We will talk you through your options. Call us at (800) 709-6726 or send an email to info@xorantech.com to purchase your MiniCAT IQ+ today.
Combine Section 179 with Bonus Depreciation
Bonus Depreciation allows you to deduct up to 60% of the business equipment purchased in 2024. This includes in-office CT systems like the MiniCAT. If you plan to make a large equipment purchase, it might be advantageous to purchase now, this deduction reduces to a 40% tax deduction in 2025.
Section 179 and Bonus Depreciation can be used for almost any new or pre-owned equipment purchase. You can also combine the deductions by taking the maximum Section 179 deduction and use Bonus Depreciation on the rest.
DEDUCT OVER $1M
A deduction of up to $1,220,000 million from your business income tax return is good on new and used equipment for the current tax year.
QUALIFICATION REQUIREMENTS
To take the deduction for the current tax year, the equipment must be financed or purchased and put into service between January 1 and the end of the day on December 31
CAP $3,050,000
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar-for-dollar basis.
SB TAX INCENTIVE
This spending cap makes Section 179 a true “small business tax incentive” (because larger businesses that spend more than $3,050,000 on equipment won’t get the deduction.
WHAT DOES THIS MEAN?
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.
WHAT APPLIES TO ME?
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
According to IRS Section 179, you may qualify to deduct the TOTAL cost of a new or used MiniCAT purchased or financed this tax year. Businesses can deduct up to $1,220,000 on their capital equipment purchases in 2024. This includes in-office CT systems like the MiniCAT IQ+. Consult with your independent CPA for further details on how this incentive applies to your practice.
