Tax Code 179 in the Aesthetics Industry
Sentient Lasers aims to make buying aesthetic equipment as easy as possible. We have plenty of flexible financing options, including zero interest, so you can grow your business without extra burden.
wEven better, Tax Code 179 can support the purchase of new equipment. This deduction can be applied to both new and used equipment, regardless of whether payments are made via cash or financing. Whether you are the sole proprietor of your own aesthetics business, or you work in a partnership or corporation, read on to learn how Section 179 can help.
What is Tax Code 179?
Section 179 of the IRS Tax Code authorizes a full-price write-off for any qualifying piece of equipment in the year it was purchased/financed. This means that 100% of a new or used laser purchase can help reduce your tax burden if bought within the year. This is great for small businesses that could benefit from a full deduction right away rather than depreciating it over the machine’s lifespan.
As with anything tax related, there are stipulations to keep in mind. In order to qualify for this, the assets must be tangible, fully purchased (or leased), not acquired from a related party (family members, trusts, charitable organizations, etc.), and must be used more than 50% in your business. These guidelines allow for a fair amount of flexibility, and the advantages highly incentivize aesthetics businesses to bring on new services.
In fact, 78% of small businesses use Section 179 to offset their tax expenses.
The limits of this deduction have increased over the amount set for last year in 2021. You can now write off 100% of the purchase price up to $1,080,000. If buying multiple pieces of equipment, the total equipment purchase limit reaches $2.7 million. Your write-off is also limited to your annual income—deductions cannot be more than your profits.
Another thing to keep in mind is that the piece of equipment must be in operation by the end of the year. Now is a perfect time to start considering this option if you’re interested in growing your business with a new piece of equipment. Don’t wait, avoid the stress of the end-of-the-year rush!
If you’re interested in seeing what you can save with Tax Code 179 with an aesthetic device purchase, use this calculator for insight.
As with anything tax related, there are stipulations to keep in mind. In order to qualify for this, the assets must be tangible, fully purchased (or leased), not acquired from a related party (family members, trusts, charitable organizations, etc.), and must be used more than 50% in your business. These guidelines allow for a fair amount of flexibility, and the advantages highly incentivize aesthetics businesses to bring on new services.
In fact, 78% of small businesses use Section 179 to offset their tax expenses.
The limits of this deduction have increased over the amount set for last year in 2021. You can now write off 100% of the purchase price up to $1,080,000. If buying multiple pieces of equipment, the total equipment purchase limit reaches $2.7 million. Your write-off is also limited to your annual income—deductions cannot be more than your profits.
Another thing to keep in mind is that the piece of equipment must be in operation by the end of the year. Now is a perfect time to start considering this option if you’re interested in growing your business with a new piece of equipment. Don’t wait, avoid the stress of the end-of-the-year rush!
If you’re interested in seeing what you can save with Tax Code 179 with an aesthetic device purchase, use this calculator for insight.
Purchasing with Sentient Lasers
Tax Code 179 has helped countless business owners save money and elevate their business offerings. If you’re in the aesthetics business and have considered one of Sentient’s many options, don’t forget to take advantage of this huge deduction opportunity. Whether it’s a device from our extensive used inventory, or one of our new, proprietary technologies!
Sentient offers the latest, most cutting-edge devices on the market by sourcing technology from around the world. Sentient Sculpt™ is the future of body contouring, acutely targeting fat to effectively smooth cellulite.
Choose Tixel or Sculpt to update your aesthetic business with the hottest treatments on the market!
Sentient offers the latest, most cutting-edge devices on the market by sourcing technology from around the world. Sentient Sculpt™ is the future of body contouring, acutely targeting fat to effectively smooth cellulite.
Choose Tixel or Sculpt to update your aesthetic business with the hottest treatments on the market!
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