How to Leverage Small Business Tax Benefits of Section 179 in 2021!

(Please note: Here is an updated blog about the 2022 Tax Year Section 179 Deduction)

If you haven’t been leveraging the benefits of Section 179 for your physical therapy practice, you’ve been missing out on a crucial way to save BIG on the investments you made over the year at tax time! 

This crucial small business equipment tax credit is one of the best tax deductions for small to medium-sized private practices, and you can put it to work for your physical therapy clinic, too! 

Essentially, Section 179 allows your business to write off the entire purchase price of qualifying equipment for the current tax year!

The small business tax write-off implications of Section 179 start with your equipment budget. Were you hesitant to purchase the technology your practice needs this year? With Section 179, you can deduct the cost of new, used and leased equipment. 

It’s true: You can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage small businesses like yours to differentiate themselves from the competition.

Removing the Full Burden of Cost from Practice Owners

We know that equipment costs can be one of the greatest hurdles that new physical therapy practices face. However, with the tax perks of Section 179, they don’t have to be. If you’ve put equipment purchases on hold, now’s the time to make your move if you want to take advantage of this massive $1,050,000 deduction. For tax year 2021, any equipment must be financed (or purchased) and put into service between January 1, 2021, and December 31, 2021.

It’s worth pointing out that these are TRUE small business tax benefits: There is a spending cap on equipment purchases of $2,620,000. That’s an increase over the 2020 cap of $2,590,000 – which means more room for your practice to grow by utilizing the best in PT technology! There’s no reason not to take advantage of this massive physical therapy tax credit and save more of your hard-earned cash. 

Plus, you’ll be providing the best possible care to your patients!

Great News: Your NEUBIE or HRV Purchase Qualifies!

As a physical therapy practice, don’t you deserve to save money on equipment you need to stand out from the competition? We sure think so! With your purchase of the NEUBIE device, you could potentially save over $6,000! Want to see how much savings are in store for your practice? Use this free Section 179 calculator and fill in the cost of your equipment purchase to see the savings come tax time! 

What could be better than adding a massive differentiator to your practice with the NEUBIE device? Taking a hefty bite out of your taxes is a great start! However, to say thank you to the amazing physical therapy community that we serve, we are offering some INCREDIBLE end-of-year promotional pricing to kick off 2022.

You’ll get some of the best savings of the year on both the cutting-edge NEUBIE device and our HRV assessment system while maximizing your physical therapy tax credits. Don’t wait: These benefits expire on December 31, 2021! That includes the small business tax benefits you can leverage from Section 179.

(Please note that we are not tax experts, and we, of course, recommend consulting with your tax professional regarding Section 179 and any other tax credits for your business.)

Ready to bring a massive value-add to your practice AND your bottom-line? Reach out to us to get started and unlock our best pricing of the year!