Write-Offs for Qualifying Equipment
Did you know you may be eligible for an equipment tax deduction or credit? According to Section 179 and Section 44 of the IRS tax code, you may be able to deduct the full purchase price or apply a credit up to 50% on qualifying equipment.
To find out if you are eligible, fill out this form and our Capital Equipment team can help you find exactly what you need while maximizing your tax benefit!
Section 179
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 from your gross income!
How Section 179 Works
- In the past when your business bought qualifying equipment, it typically wrote it off a little at a time through depreciation.
- Section 179 allows your business to write off the entire purchase price of qualifying equipment for the current tax year.
- Businesses can use Section 179 to purchase needed equipment right now, instead of waiting. For most small businesses, the entire cost of qualifying equipment can be written-off (up to $1,000,000).
ADA, Section 44
Under Section 44, The Americans with Disabilities Act (ADA) allows you to apply a credit of 50% of your purchase amount, up to $10,250 (maximum credit of $5000) for qualifying equipment, to offset the cost of purchasing certain adaptive equipment.
Make Sure You Qualify!
Do you have:
- Total revenues of $1,000,000 or less in the previous tax year?
- or 30 or fewer full-time employees?
Want to learn more about how you can save on equipment purchases with the ADA Tax Credit?
Click the link below to download the ADA Form 8826.
Triton
Triton 6M Traction Table
MeyerPT # CHT108US
Six-section table that provides maximum patient comfort for manual and traction therapy.
BodyMed®
3 Section Hi-Lo Treatment Table
MeyerPT # BDMTTHILO3BLU
The BodyMed® 3 Section Hi-Lo Treatment Table offers practitioners dependable, high-quality support for various treatments and therapies.
SCIFIT
PRO230 Total Body Exerciser
MeyerPT # SFI217
Ergonomically designed exerciser for conditioning and strengthening the upper and lower body.
SCIFIT
StepOne™ Recumbent Stepper
MeyerPT # MTT126
User-friendly stepper that offers 20 resistance levels for a total-body workout by using arm and leg movements.
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*Please consult with your attorney, accountant, and/or tax advisor for advice concerning your particular circumstances.