RENEW DIGITAL LEARNING HUB

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.

Calling all new dental CBCT owners! So, you've just made the leap to 3D imaging, now what? CBCT has revolutionized the dental industry, providing three-dimensional imaging capabilities that enhance diagnostic precision and treatment planning. Now, how will this advanced technology impact your practice?

If you've been in the dental field for several years, one dental imaging brand that may come to mind is Gendex. This X-ray and CBCT manufacturer once had a prominent footprint in the dental market, with displays featured at conferences, trade shows, CE courses, and more. While the Gendex brand no longer makes equipment, their manufacturing excellence still exists through DEXIS, previously KaVo Kerr. 

Planmeca CBCT machines are revered the world over as one of the leading names in the dental manufacturing industry. Their technology delivers exceptional image quality and produces images that capture even the finest details, and combines this with special attention to patient comfort and operator ease of use.

Since their founding in 2004, Anatomage, a medical and dental technology company, has risen to prominence with its cutting-edge software. Headquartered in the heart of Silicon Valley, Anatomage has provided turnkey solutions to the dental community, in particular with its Tx STUDIO software, the "brains" of an i-CAT CBCT.

Korean dental imaging manufacturer Vatech is one of the dental industry's hottest names in imaging technology, and for good reason! From launching the world’s first 3-in-1 digital X-ray system to a 41-layer digital panoramic radiograph, Vatech has built quite a reputation across the globe.

Extraoral imaging is the foundation of making oral surgery diagnoses and planning treatment options. When it comes to choosing the best dental X-ray machine brands for oral and maxillofacial surgery (OMS) practices, several reputable manufacturers offer advanced imaging technologies suitable for their specific needs. These brands are known for their quality, reliability, and innovation in dental radiography.

Congratulations on your big next step in your dental career! Opening a start-up is a big challenge but is a potentially lucrative investment in your future. It also, of course, comes with major considerations - finances, staffing/recruiting, patients, service offerings, construction, legal, technology and equipment, and the list goes on.

In a dental field that is increasingly competitive and constantly evolving, entrepreneurial skill and business acumen are valuable assets towards the success of your practice. One area where this is especially true is in the field of orthodontics. Enter the OrthoPreneurs, a trailblazing community of doctors who are not just orthodontic practitioners but also savvy entrepreneurs.