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Learning about tax codes can be intimidating. Claiming deductions can be confusing and complicated. We’re here to help explain one of the most useful tax codes for dental and other medical professionals: Section 179.

Use coupon code “Tax2021” to get 10% off MediDent Supplies high-quality PPE, dental and medical equipment through 12/31/21.

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What is Section 179?

Section 179 allows businesses to deduct the full cost of qualifying equipment or technology purchased during the tax year right away. This means that if you buy equipment for your business before the end of the year, you can deduct the full price of the equipment from your gross income.

How does it work?

Taking advantage of Section 179 is a simple three-step process.

1. Ensure that your purchase is eligible. Eligible items are:

2. Start using the purchased equipment. The asset(s) in question must be in use to qualify.

3. Claim the deduction on Part I of Form 4562.

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Section 179 for dental and medical practices

The 2021 Section 179 tax deduction allows a medical practice to take a tax deduction for the cost of qualifying purchases in the year it is purchased into service up to $1,050,000. This can help lower your taxable income and increase cash flow.

This year, as many dental and medical practices are adjusting to the new normal by implementing new standards for PPE and air purification, improved technology for remote appointments, and sanitizing procedures, a Section 179 tax deduction could be particularly helpful.

MediDent Supplies

Companies and healthcare providers nationwide trust MediDent Supplies for their face covering and COVID testing supplies. Browse MediDent’s thorough selection of PPE and sanitization supplies today and ensure your workplace is safe. Use coupon code “Tax2021” to get 10% off MediDent Supplies high-quality PPE, dental and medical equipment through 12/31/21.

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