TULSA, Okla., Dec. 7, 2020 /PRNewswire/ — Often perceived as a complicated tax code, Section 179 deductions are more straight forward than most businesses realize. Under Section 179 of the IRS tax code, businesses can deduct the full purchase price of any qualifying equipment or software purchased or financed during the current tax year. This means any ultrasound systems purchased through Advanced Ultrasound Systems are capable of being deducted from the business’s gross income. This incentive was created by the United States government to encourage businesses to continue to invest in themselves through modern technologies.
Historically, when businesses bought qualifying equipment, they would have to write the purchase off in small increments through depreciation. Most business owners, however, would prefer to write off the entire purchase for the purchase year. With Section 179, this is exactly what the business can do for qualifying equipment. When utilized properly, it provides a new way for businesses to keep up with modern technologies and ensure they are providing the best experience possible to their clients, patients or persons served.
