Henry Schein Financial Services said it is ready to support practice owners interested in tax savings available through the recently enacted Protecting Americans From Tax Hikes (PATH) Act.
The PATH Act increases the Section 179 deduction limit to $500,000 (previously $25,000) in equipment and technology on 2015 tax returns, according to a press release. It was signed into law on December 18.
"Henry Schein Financial Services offers practitioners the attractive financing costs that may help them take advantage of the potential tax savings opportunity the PATH Act presents starting this year, but time is of the essence," said Vice President Keith Drayer in the release. "Practice owners may also face higher financing costs next year, which could result in a less favorable net cost on equipment purchases, computers, software, and furniture, all while struggling to balance technology costs.
The law is retroactive to January 1, 2015, but only items in use by the end of 2015 are considered tax deductible on 2015 returns, according to Henry Schein.
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