What is a Section 179 tax deduction and
what does it have to do with EMR Software?
In 2003, a change was made to the tax-law that allows medical offices
to write-off up to $100,000 of EMR expenses in the first year of ownership,
even when purchased under a lease or financing agreement. Before 2003
if property for business had a useful life of more than one year,
the cost had to be spread across several tax years as depreciation
with a portion of the cost deducted each year.
Under the new law there is a way to immediately receive these income
tax benefits in one tax year. The provisions of Internal Revenue
Code Section 179 allow a sole proprietor, partnership or corporation
to fully expense tangible property in the year it is purchased.
Internal Revenue
Service publication 946: How to depreciate your property
For more information on the section 179 tax law and our financing
options please call a sales representative at 619-819-8610 or send
an email to info@emrexperts.com
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