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Course Approval Status:
ABO # STWQO037-2
APPROVED for 1 Hour(s) of CE
New York - (#09-05) DISP
APPROVED for 1 Hour(s) of CE
Florida - (#20-216612) Technical
APPROVED for 1 Hour(s) of CE
Tennessee Approval Pending
PENDING for 1 Hour(s) of CE
Nevada - SP
APPROVED for 1 Hour(s) of CE
Ohio - SP
APPROVED for 1 Hour(s) of CE
Georgia
PENDING for 1 Hour(s) of CE
Ontario Opticians (#2676 EG)
APPROVED for 1 Hour(s) of CE |
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You can enhance your practice’s bottom line through significant tax benefits when purchasing equipment, such as an electronic measuring system. Capital investments in your practice can be applied against taxable income, thereby reducing the amounts due to various taxing authorities (e.g., state, federal, county, etc.). Just how much and to what schedule these offsets can be applied will depend upon your specific circumstances and applicable tax laws. Be sure to seek experienced guidance. Depreciation is one of the most important factors that should go into your decision to buy and in determining just how much you can afford to invest, given the anticipated return over the lifetime of the equipment. Internal Revenue Code Section 179 allows a sole proprietor, partnership, or corporation to fully expense tangible property in the year it is purchased. That could have potentially significant tax implications in the first taxable year, when the capital outlay has its greatest impact on the bottom line. The underlying cost of the measuring system is lower than the selling price due to tax savings and if the equipment is financed, the actual cash outlay is only the monthly payments. |
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