Taking Full Advantage of Section 179 Tax Deduction - Pharmacy Podcast Episode 476

RxSafe sponsor's this episode of the Pharmacy Podcast to help educate pharmacy owners, directors, and pharmacy business stakeholders about the benefits of Section 179 Tax Deduction.  2017 Deduction Limit = $500,000 This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2017, the equipment must be financed/purchased and put into service between January 1, 2017 and the end of the day on December 31, 2017. 2017 Spending Cap on equipment purchases = $2,000,000 This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true "small business tax incentive" (because larger businesses that spend more than $2.5 million on equipment won't get the deduction.) Bonus Depreciation: 50% for 2017 Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. Please Note> Bonus Depreciation is available for new equipment only; used equipment qualifies for Section 179 Deduction, but does not qualify for Bonus Depreciation Special Guests: Trey Crawford Diket’s Professional Drugs 1107 Jefferson Street Laurel 39442 Phone: 601-425-2527  Peter B Davison ADVANTAGE FINANCIAL SERVICES, LLC 221 Tunxis Road West Hartford, CT 06107 pdavison@advantage-financial.com website: www.advantage-financial.com O 860 233-7465 See omnystudio.com/listener for privacy information. Learn more about your ad choices. Visit megaphone.fm/adchoices