Section 179 is a tax loophole that is designed to promote small business by allowing them to grow and strengthening the economy. If you want to grow your practice and get to where you have set your goals, now is the time to check this opportunity out. Who knows how long it'll be available to us.
The 2022 Section 179 deduction limit for businesses is $1,080,000 (a $30,000 increase from 2021). Your business can deduct the full price of qualified equipment with a "total equipment purchase" limit of $2.7 million.
If your practices purchases or finances equipment between January 1st to December 31st and uses it before the end of 2022, you can legally escape paying federal income taxes on your 2022 profits.
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