Buy equipment now to take advantage of tax break

Buy equipment now to take advantage of tax break

source-image
Jun 30, 2008
By dvm360.com staff

Have you been thinking about upgrading an aging piece of equipment, but you keep putting off the big purchase? Buying a new piece of equipment might be worth another thought—you have five months to take advantage of a special IRS incentive. The Section 179 equipment expensing limit was increased from $128,000 to $250,000 for one year only. This means the cost of qualifying new or used equipment and computer software purchased and placed in service at your practice before Jan. 1, 2009, can be deducted from your business's 2008 income. In addition to the increased equipment expensing limit, new property and certain leasehold improvements are eligible for 50 percent bonus depreciation in 2008.

To learn more, click here.

Hot topics on dvm360

Follow dvm360 on Twitter, Facebook, and Pinterest

For quick updates and to touch base with the editors of dvm360, Veterinary Economics, Veterinary Medicine, and Firstline, and check us out on Twitter, Facebook, and Pinterest.

Sell veterinary clients on your service

But you don't have to have butler-style service to win new clients and keep existing clients happy.

Why veterinarians should be more like a Louisiana shoeshiner

If my veterinary clients feel half as good as I did after visiting the 'Michael Jordan of shoeshines,' I'll be thrilled.

Texts from your veterinary clinic cat

If your clinic cat had a cell phone and opposable thumbs, what would he or she text you?

Learning goodbye: Veterinarians fill a void by focusing on end of life care

Veterinarians dedicating their careers to hospice and euthansia medicine may be pioneering the profession's next specialty—at clients' request.