The fourth quarter is an opportune time for imaging providers to acquire needed radiology equipment to gain the advantages of Section 179 and Bonus Depreciation tax breaks.
Many providers in women's health, oncology, radiology, and every facet of imaging are balancing their efforts to control costs with investing in technology that can improve patient outcomes.
IRS Code Section 179 includes accelerated write-offs for capital expenses and is a great opportunity to acquire equipment and software while increasing cash reserves. Loans and non-tax leases can enable imaging providers to retain tax ownership of the equipment and use the Section 179 write-off. In addition, Bonus Depreciation enables qualifying businesses to write off 50% of the cost to acquire eligible eqiupment. Also, tax leases effectively trade tax depreciation for lower payments. Plus, tax leases allow the entire lease payment to be deducted as an operating expense on the imaging provider's tax return.