Tax Benefits of Purchasing Equipment from Da Vinci Medical
Section 44: Disabled Access Tax Credit
The disabled access tax credit is designed to help small businesses defray the costs of complying with the ADA (the Americans with Disabilities Act). It applies to companies with:
$1 million or less in gross receipts for the preceding tax year, or
30 or fewer full-time employees during the preceding tax year.
The value of the tax credit equals up to 50 percent of expenditures resulting from disabled access expenses that exceed $250 per year, up to $10,250. Thus, the maximum credit is $5,000.
The disabled access tax credit covers “eligible access expenditures” for small businesses, including amounts paid or incurred to acquire or modify equipment or devices for individuals with disabilities or to provide other similar services, modifications, materials, or equipment.
Section 179: Bonus Depreciation
Under Section 179, small businesses can write off 80% of the purchase price of the equipment they purchase or finance up to the limit of $2,700,000.
Example: if you purchase any of the 3 TheraLight beds, you will see an instant 80% deduction for that tax year.
If you finance a full Superhuman Protocol system this year, regardless of how many months the terms are, you can expense 80% of purchase price for that tax year, regardless of payments being made over the term.
Section 41: Practice Tax Credit
(Research & Development)
A tax credit for small businesses that is determined based upon the addition and usage of new modalities and techniques in your practice. A mandatory formal study is conducted to determine the exact tax credit amount. Two main factors in determining the amount are: 1) The time that the doctor and staff spend utilizing various modalities and techniques on a weekly basis. 2) The amount of W-2 wages of those who are involved in rendering services, as explained in factor #1.
Note: This credit can be claimed retroactively up to 3 years from the date of purchase or financing as a refund and then filed as a credit going forward in future years.