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Great information about 2013 & 2014 tax deductions for practices for purchases of software & equipment!
IRS Section 179 Deduction Limits:
2013 Limit is $500,000.00
2014 Limit is dropping to $25,000.00
What this means?
Practices who purchased software/equipment in 2013 are able to deduct the full amount on their taxes. The limit for 2013 is set at $500,000, so practices are able to deduct software and any other equipment they’ve purchased in 2013 as long as it doesn’t exceed $500,000.
What about 2014?
Starting in 2014, that deduction amount will drop to $25,000.
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