IRS Tax Code Section 179 – 2021 Equipment & Technology Credit

The Section 179 Tax Deduction is up to $1,040,000!

depreciation of dental equipment

A Section 179 tax deduction may allow a dental practice to take a tax deduction for the cost of qualifying purchases, such as new equipment and technology, in the year it is purchased into service. Section 179 can result in a 2021 tax deduction for up to $1,040,000, help lower your taxable income, and increase cash flow.*

Especially now, as many dental practices are adapting to the current environment by implementing new standards of care, a Section 179 tax deduction could be a win-win. Not only are you investing in your practice with the equipment, technology, and tools needed to become more efficient and provide better care, but you may be also eligible for a tax deduction with Section 179.* New equipment and technology are great examples of tax deductible expenses for dentists with Section 179.

To qualify for a Section 179 tax deduction on your 2021 taxes, you must purchase and place qualifying dental equipment and technology into service by 12/31/2021, in addition to meeting other eligibility criteria under Section 179.*


How does Section 179 work?

Buy dental equipment

Purchase

dental equipment or technology, before December 31st.

Deduct dental equipment purchases

Deduct

up to $1,040,000 in equipment and technology costs (with a $2.5 million purchase limit).

Save on dental equipment

Save

on your taxes when equipment is purchased & placed into service within the same year.


 Section 179* Summary:
  • Up to a $1,040,000 tax deduction
  • $2,590,000 equipment purchase limit
  • 100% first-year bonus depreciation
  • Available on purchases of equipment, technology, off-the-shelf software, roofs; heating, air conditioning, ventilation systems; fire protection, alarms and security systems, and office furniture. (Note: Any improvements must be purchased and placed into service after the original date the property was first placed in service.)

dental equipment depreciation rate

Finance Equipment or Technology for Your Practice Today! **

Henry Schein Financial Services offers flexible financing programs that can make equipment and technology upgrades affordable. We offer 100% financing, low rates, customized payment programs, and fast approvals.

Have questions?
We are here to help – contact us today to schedule a complimentary consultation with a Henry Schein Financing Representative.


* Neither Henry Schein, Inc. nor Henry Schein Financial Services provides tax advice. Please consult with a qualified professional tax advisor to determine your eligibility for a Section 179 tax deduction. Must purchase and place into service by December 31, 2021.

** Rates and programs are subject to change without notice. All transactions are subject to the satisfaction of underwriting guidelines, credit approval by third-party lenders, and documentation requirements, and not all applicants will qualify. Certain other restrictions and additional terms and conditions may apply.

©2021 Henry Schein, Inc. Neither Henry Schein, Inc. nor Henry Schein Financial Services provides financial advice. Please consult your financial advisor. Neither Henry Schein, Inc. nor Henry Schein Financial Services is a bank and neither represents itself as such, nor conducts banking activities. Henry Schein Financial Services may receive a marketing fee from the vendor for products/services purchased.