IRS Tax Code Section 179 2023 Medical Equipment & Technology Credit

Tax Deduction for Doctors & Medical Practices

Section 179 Tax Deductions for Doctors

The Section 179 Tax Deduction is up to $1,160,000!

A Section 179 tax deduction may allow a medical practice to take a tax deduction for the cost of qualifying purchases, such as new equipment and technology, in the year it is purchased into service. Section 179 can result in a tax deduction for up to $1,160,000, help lower your taxable income, and increase cash flow.* Please contact your personal tax advisor as every situation is different.

Especially now, as many medical practices are adapting to the current environment by implementing new standards of care, a Section 179 tax deduction could be a win-win. Not only are you investing in your practice with the equipment, technology, and tools needed to become more efficient and provide better care, but you may be also eligible for a tax deduction with Section 179.*

To qualify for a Section 179 tax deduction on your 2024 taxes, you must purchase and place qualifying equipment and technology into service by 12/31/2024, in addition to meeting other eligibility criteria under Section 179.*

 Section 179* Summary:
  • Up to a $1,160,000 tax deduction
  • $2,890,000 equipment purchase limit
  • 100% first-year bonus depreciation
  • Available on purchases of equipment, technology, off-the-shelf software, roofs; heating, air conditioning, ventilation systems; fire protection, alarms and security systems, and office furniture. (Note: Any improvements must be purchased and placed into service after the original date the property was first placed in service.)

Finance Equipment or Technology for Your Practice! **

Henry Schein Financial Services offers financing that can make medical equipment and technology upgrades affordable. We offer 100% financing, low rates, customized payment programs, and fast approvals. For more information on financing or Section 179, please contact us online, call 1-877-776-7286, or email us at hsfs@henryschein.com.

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* Neither Henry Schein, Inc. nor Henry Schein Financial Services provides tax advice. Please consult your personal advisors. Must purchase and place into service by December 31, 2024.

** Rates and programs are subject to change without notice. All transactions are subject to the satisfaction of underwriting guidelines, credit approval by third party lenders, and documentation requirements, and not all applicants will qualify. Certain other restrictions and additional terms and conditions may apply. 

©2024 Henry Schein, Inc. Neither Henry Schein, Inc. nor Henry Schein Financial Services provides financial advice. Please consult your financial advisor. Neither Henry Schein, Inc. nor Henry Schein Financial Services is a bank and neither represents itself as such, nor conducts banking activities. Henry Schein Financial Services may receive a marketing fee from the vendor for products/services purchased.