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It’s hard to believe, but it’s that time of year again to start thinking about how to reduce your practice’s tax liability for 2024.

Section 179 of the IRS tax code, designed to encourage small businesses, including many private practices, to invest in their practice and allow them to deduct the full purchase price of qualifying equipment and/or software that has been purchased or financed during the tax year from their total gross income.

For dental practices, this means that the cost of capital equipment such as CBCT, digital X-ray machines, intraoral scanners, and even software can be fully or partially deducted from gross income. This means your practice can write off the full purchase amount this year and are no longer required to depreciate the equipment over time as they have in previous tax years.

Calculating this deduction effectively can help reduce tax liabilities and improve cash flow for practices. Here’s a guide to understanding and calculating the Section 179 deduction for dental imaging equipment.

As a dental professional, getting a proper X-ray scan is vital for making an accurate diagnosis. And, with your investment in cone beam technology, you want to be able to utilize all the advanced capabilities 3D imaging has to offer.

The American Association of Orthodontics (AAO) is an organization dedicated to promoting excellence in orthodontic care and education. Each year, the AAO hosts an annual meeting, which brings together orthodontic professionals from around the world to share knowledge, showcase the latest advancements in orthodontic technology and treatment techniques, and network with colleagues.

American Association of Orthodontists (AAO) Midwinter Meeting is an annual event organized by the AAO, a professional organization representing orthodontists. This meeting is typically held during the winter months and serves as an important gathering for orthodontic professionals.

When you get to RenewDigital.com, you may have noticed our "Starting At" pricing listed on several options. But, what does this mean?

It’s hard to believe, but it’s that time of year again to start thinking about how to reduce your practice’s tax liability for 2023.

Section 179 of the IRS tax code, designed to encourage small businesses, such as dentists and dental specialists, to invest in their practices, allows them to deduct the full purchase price of qualifying equipment and/or software that has been purchased or financed during the tax year from their total gross income.

For dental practices, this means that the cost of equipment like CBCT scanners, digital X-ray machines, intraoral cameras, and even software can be fully or partially deducted from gross income. This means your practice can write off the full purchase amount this year and are no longer required to depreciate the equipment over time as they have in previous tax years.

Let's review how dental professionals can calculate their Section 179 deductions for dental imaging equipment.