As business owners, dentists should know about the Section 179 Deduction, but if you are not up to speed on the nuances 
and regulations, Panoramic Corporation would like to provide a resource for finding out more if you are considering year-end equipment purchases.
Section 179 of the IRS Tax Code enables businesses to deduct the full purchase price of financed or leased equipment as long as they are put to use in the tax year they are being claimed. There are dollar limits for applying Section 179 you need to be aware of, but that also makes Section 179 especially beneficial for small businesses. Click here for information on spending caps for current and previous years.
Congress made $500,000 the permanent Section 179 deduction limit in 2015. Congress also provided for a 50% bonus depreciation on new equipment purchases and built-in escalators for inflation in future years. Click here to see a list available of equipment that can be deducted while it’s being leased or financed.
Regarding date of purchase, as long as the equipment or software was purchased or financed and put into use between January 1 and midnight on December 31 of that year, it can be deducted for that year. To calculate what your savings might be wherever you live, click here to access an easy-to-use 
calculator.
If you have a wish list you’ve been put on the back burner, or are seriously thinking about purchasing a panoramic/cephalometric or 3D imaging system from Panoramic, learn how the Section 179 tax deduction can help you realize your dream. If you are in the 35% tax bracket, this information will show you how could save thousands in taxes. To reach a Panoramic equipment expert, click here.