Henry Schein Financial Services helps practice owners leverage 2014 tax savings

Henry Schein announced its ongoing support for practice owners seeking to leverage the recently signed Tax Increase Prevention Act of 2014.

As part of the Tax Increase Prevention Act of 2014, Section 179 deduction limits have reduced the after-tax costs of acquiring depreciable business property in 2014 by accelerating the tax deductibility of all or part of the purchase price of qualifying purchases (equipment, technology, and off-the-shelf software). The amount is scheduled to be reduced to $25,000 in 2015, according to Henry Schein.

"Henry Schein Financial Services is focused on offering practitioners attractive financing costs," stated Keith Drayer, vice president of Henry Schein Financial Services, in a press release. "Practice owners may face higher financing costs next year with less favorable after-tax cost on equipment purchases, computers, software, and furniture while struggling to balance technology costs. However, with favorable deferred payment options, an office can start generating revenue by purchasing and using new equipment now, paying for it next year and maximizing the after tax savings this year. Taking advantage of Section 179 now through the end of the year represents a financial opportunity for healthcare practices."

For more information on tax savings and incentive opportunities on equipment, technology, and renovations that cost up to $500,000 before December 31, 2014, practice owners can contact Henry Schein Financial Services by emailing [email protected] or calling 800-853-9493.