Louisiana Policyholders: Notice to policyholders in Louisiana recently affected by severe weather. 

Oregon Policyholders: Notice to policyholders in Oregon recently affected by wildfires. 

Tax Benefits

Take advantage of any tax deductions that apply when purchasing new or used equipment. We recommend you talk with your financial or tax advisor to make sure you’re maximizing those opportunities. 

Section 179 

Section 179 of the Internal Revenue Code is meant to help you improve your practice by adding new or used equipment. The tax savings help you offset payments if you choose to finance.  

Under Section 179, your practice could deduct up to $500,000 for any qualifying equipment purchases, even if it's 100% financed. 

How Section 179 Could Work for You

Let's say you're expanding your practice and negotiate great prices on a new table and X-ray machine. The total cost is $25,000. Under Section 179 rules, you may be able to deduct the full equipment cost in the year you put the equipment to use. 

If you're in the 35% tax bracket, your tax savings could be $8,750. The amount you save in taxes could exceed the amount of loan payments made the entire first year.

Section 44, ADA Tax Credit

Section 44 of the tax code is designed to help businesses comply with the Americans with Disabilities Act (ADA). When you purchase certain adaptive equipment, you could receive a credit of up to 50% of your purchase up to $10,250. The maximum credit is $5,000. 

This credit may be available to you if:

  1. Your total revenue in the previous tax year was $1,000,000 or less; or
  2. You have 30 or fewer full-time employees

Longevity of Tax Benefits

Congress rules on budgets and taxes at different times, so we don’t know how long current business deductions will remain in effect. Now may be a good time to expand or grow your practice and take advantage of possible tax savings.

Apply for a Loan Today

Equipment Loan     Working Capital Loan

Because individual circumstances vary and NCMIC does not provide legal or tax advice, we always recommend you consult with your CPA or a trusted tax consultant for information relating to Section 179 deductions and Section 44 credits, and eligibility on all your equipment purchases. 
Equipment loans offered by NCMIC Finance Corporation are subject to credit approval. You should consult an attorney or financial advisor for specific legal or tax advice before entering into any financing arrangement. NCMIC and the equipment vendor you select are separate companies, are not agents of one another, and have no authority to bind one another to financial or other contractual obligations.

This website uses first party and third party cookies to improve your experience and anonymously track site visits. By visiting this website, you opt-in to the use of cookies. OK