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 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.

While running a dental practice is certainly rewarding, let's face it, it comes with it's fair share of challenges. From managing costs to ensuring top-notch patient care, dentists have added responsibilities from their medical training in running their business.

The dental industry is constantly evolving, with exciting, new advancements in tech driving the need for updated equipment.

Extraoral X-ray machines, in particular, are essential tools for diagnostics and treatment planning. For most practices, from panos, pan/cephs to CBCTs, these are essential for the day-to-day operations and all diagnostic work.

Many dentists will tell you: staying updated with the latest technology is crucial for providing high-quality patient care.

Are you looking for ways to economy-proof your practice? Across the country, dental practices are looking to increase their profitability by retaining more patients, lowering overhead and increasing their service offerings.

CBCT is a proven method towards increasing a dental practice's profitability.

Why?

3D imaging available through CBCT allows doctors to retain more procedures, and gives a visual aid for educating your patients - opening the door for increased treatment acceptance.

Think of CBCT as a tool to allow you to do more, better dentistry! 

So, are you ready? Today, we're going to talk about the qualifiers and considerations dentists (regardless of specialty) should take when considering an upgrade from 2D imaging to CBCT.. based on feedback we've received from doctors we've worked with.

As a dental professional, the 4 letters CBCT are likely not new to you. After all, you’ve probably heard CBCT or dental cone beam computed tomography mentioned in a CE course, webinar, dental conference, by a colleague or coworker or in your dental studies.

But, if you’re accustomed to using 2D imaging now, why switch to 3D dental cone beam CT?

Have you given any thought to trading in your imaging unit to treat patients with a more advanced imaging solution?

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.

Expanding your dental practice by opening a satellite office can be an exciting opportunity to grow your business, reach new patients, and increase your offerings.

Here at Renew Digital, often speak to doctors who are interested in tracing airways to expand their service offering, but are unsure about the process and how to get started.

Before you make the investment in the right imaging equipment for airway studies, it's important to understand the workflow for tracing airway, then you can start evaluating the equipment that will help you achieve the results you're looking for.

Today, we're going to resolve these by simplifying the process of analyzing airways, to help you get started with airway studies in your practice.