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Taking Full Advantage of Section 179 Tax Deduction

RxSafe sponsor’s this episode of the Pharmacy Podcast to help educate pharmacy owners, directors, and pharmacy business stakeholders about the […]

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October 05, 2017 Community Pharmacy, Technology

RxSafe sponsor’s this episode of the Pharmacy Podcast to help educate pharmacy owners, directors, and pharmacy business stakeholders about the benefits of Section 179 Tax Deduction.

2017 Deduction Limit = $500,000
This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2017, the equipment must be financed/purchased and put into service between January 1, 2017 and the end of the day on December 31, 2017.

2017 Spending Cap on equipment purchases = $2,000,000
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true “small business tax incentive” (because larger businesses that spend more than $2.5 million on equipment won’t get the deduction.)

Bonus Depreciation: 50% for 2017
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. Please Note> Bonus Depreciation is available for new equipment only; used equipment qualifies for Section 179 Deduction, but does not qualify for Bonus Depreciation

Special Guests:

Trey Crawford

Diket’s Professional Drugs

1107 Jefferson Street

Laurel 39442

Phone: 601-425-2527

Peter B Davison

ADVANTAGE FINANCIAL SERVICES, LLC

221 Tunxis Road

West Hartford, CT 06107

pdavison@advantage-financial.com

website: www.advantage-financial.com

860 233-7465

RxSafe:

Nicole Hagaman, Marketing Consultant

760-445-5060
2453 Cades Way, Bldg. A Vista, CA 92081
nhagaman@rxsafe.com