If you're a MedSpa owner, now's the time to get into the holiday spirit and do a little shopping for your Medical Spa. The benefit?
Get your shopping done before December 31st, and come April, you can count your eligible equipment acquisitions in this fiscal year.
Many MedSpa owners operate on the principle that purchase costs for equipment and furniture must be depreciated over a number of years for tax purposes. This, however, is often not the case. In order to stimulate economic growth, the Internal Revenue Service Section 179 states: "You may elect to expense part or all of the cost of Section 179 property that you placed in service during the tax year and used predominately (more than 50 percent) in your trade or business."
Before 2003, Section 179 deductions for each piece of equipment were limited to $25,000. With the Jobs and Growth Act of 2003, the Section 179 small-business expensing limits increased to $100,000. For this year, the amount is up to $105,000. The caveat here is that the item(s) must be in use by year-end. The expensing-limit increase will expire and return to its previous level of $25,000 after 2007 if there is no additional action by Congress.
Eligible business purchases include:
Equipment of all types, electronic and other (i.e. IPL, microdermabrasion, computers, LED)
Software
Furnishings (i.e. treatment tables, chairs, cabinets)
Ineligible purchases include:
Real estate & Investment property
Property of all types held in trust or estates (including equipment, machinery, etc.)
Detailed information on Section 179 deductions can be found on the IRS web site with “Publication 946, How To Depreciate Property”. As with any tax issues, you must consult with your tax adviser to make sure that you are taking full advantage of deductions allowed for your specific situation.
If you want to take advantage of this years Section 179 expense provision, call MedSpa Financing to ensure your equipment purchase meets the Section 179 requirements. We have several special programs that combines the benefits of leasing (no down payment, 3-5 year terms, save your cash), while allowing you to take advantage of the tax benefits the Section 179 expense provision may allow you.
About MedSpa Financing (Oakridge Healthcare)
MedSpaFinancing.com is a division of Oakridge Healthcare, which provides turn-key healthcare financing solutions to medical practices throughout North America (www.oakridgehealthcare.com).
Through our network of financial partners, we have the capacity to finance everything from a single treatment machine to an entire $20 million Medical Spa facility. For additional information, visit our website: www.medspafinancing.com. MedSpa Financing is a Sustaining Member of the International Medical Spa Association, and proud member of our local Chamber of Commerce.
CONTACT INFORMATION:
Jeff Russell1-800-485-5759
MedSpaFinancing.com (a division of Oakridge Healthcare)
http://www.medspafinancing.com
Fore more information’s see here:
http://www.dreddyclinic.com/ayurveda_asia.htm
http://www.dreddyclinic.com/ayurveda_spa.htm
http://www.dreddyclinic.com/holistic_spa.htm
http://www.dreddyclinic.com/medical_spa.htm
http://www.dreddyclinic.com/spa.htm
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