Maximizing Your Business Savings with Section 179 Tax Deductions: Order and Install Medical Equipment by December 31, 2024
At Auxo Medical, we understand that purchasing essential medical equipment is a significant investment for any healthcare facility. However, the Section 179 tax deduction provides an excellent opportunity to minimize your tax liability by allowing you to deduct the full cost of qualifying equipment purchased and installed during the tax year. For 2024, the Section 179 deduction cap has been increased to $1,220,000, ensuring even more savings for businesses. This article will guide you through how you can benefit from Section 179 and why now is the perfect time to invest in new or used medical equipment.
What Is Section 179?
Section 179 of the IRS tax code was designed to encourage small and medium-sized businesses to invest in new or used equipment by offering significant tax deductions. Under this provision, businesses can deduct the full purchase price of qualifying equipment, rather than depreciating it over several years. This applies to new and used equipment purchases, as well as off-the-shelf software. The key requirement is that the equipment must be financed, purchased, and put into use by December 31, 2024.
By taking advantage of Section 179, healthcare providers can acquire the necessary tools to improve patient care while enjoying substantial tax savings. This deduction is particularly beneficial for medical facilities looking to upgrade their technology without overextending their budgets.
Key Benefits of Section 179 for 2024
For the 2024 tax year, the Section 179 deduction has been increased to a maximum of $1,220,000, which means businesses can deduct up to this amount from their taxable income. Additionally, the total spending cap on equipment purchases eligible for full deduction is $3,050,000. Once this threshold is exceeded, the deduction is reduced on a dollar-for-dollar basis.
In summary, the key benefits of Section 179 for 2024 include:
- Deduction cap of $1,220,000 for equipment placed in service by December 31, 2024.
- Applies to new and used equipment, as well as off-the-shelf software.
- Immediate tax savings for businesses, rather than depreciating the equipment over time.
- Equipment must be financed or purchased and operational by year-end.
To help you calculate the potential savings for your business, Auxo Medical encourages you to use Ascentium Capital’s Section 179 Tax Calculator, which provides an estimate of how much you can save on your 2024 taxes.
Qualifying Medical Equipment at Auxo Medical
At Auxo Medical, we offer a wide range of medical equipment that qualifies for the Section 179 tax deduction. Whether you’re looking to upgrade your C-Arms, sterilizers, surgical tables, or other essential medical devices, we have the products you need to enhance patient care and improve operational efficiency. Below is a list of some of our most popular items that are eligible for Section 179.
C-Arms
These C-Arms are designed to offer high-quality imaging in surgical settings, helping healthcare professionals make accurate diagnoses and perform minimally invasive procedures. Investing in one of these systems can improve your diagnostic capabilities while taking advantage of tax savings.
Sterilizers
- Steris 400 Series 20″ Sterilizer (Model: AM-400-20)
- Steris 400 Series 48″ House Steam Sterilizer Recessed (Model: AM-400-48)
Sterilization is critical to maintaining a safe and efficient healthcare environment. Our range of Steris sterilizers ensures that your instruments remain contamination-free, safeguarding both your staff and patients.
Surgical Tables
- Steris 4085 General Surgical Table (Model: AM-S4085)
- Oakworks CFPM400 Integrated Headrest Imaging-Pain Management Table (Model: AM-81808)
These surgical tables provide stability and flexibility, ensuring that your operating room is equipped to handle a range of procedures. By purchasing these tables before the end of the year, you can deduct their full cost under Section 179.
Surgical Lights
- Steris Harmony Air M Series Dual Head LED Surgical Light (Model: AM-HARMONYAIR-M-2L)
- Skytron Aurora LED 2 Head Surgical Light System (Model: AM-SKY-AURORA-2L)
Proper lighting is essential for any surgical procedure. Our Steris and Skytron surgical lights deliver consistent, shadow-free illumination, enhancing visibility in the operating room.
Stretchers
- Stryker M Series Model 1015 Stretcher with Big Wheel (Model: AM-SM204B)
- Hill-rom P8000 Trauma/Procedure 700lb Stretcher (Model: AM-P8000-PS)
Reliable stretchers are a must-have for any hospital or clinic. These Stryker and Hill-rom models are designed to provide maximum comfort for patients during transport while ensuring ease of use for medical staff.
Anesthesia Machines
- Mindray A4 Advantage Anesthesia System (Model: AM-MINDRAY-A4)
- GE Avance CS2 Anesthesia Machine (Model: AM-GE-AVANCE-CS2)
Ensuring precise anesthesia delivery is critical for patient safety during surgery. These anesthesia machines offer advanced features that improve the accuracy and control of anesthesia administration.
Nerve Block Ultrasounds
- Chison SonoAir 70 with One Standard Transducer and Trolley (Model: AM-CHISON-SA70-1P-C)
- Mindray TE5 Ultrasound with 1 Probe (Model: AM-TE5-1P)
Ultrasound systems are essential tools for diagnosing and treating a variety of conditions. These models from Chison and Mindray provide exceptional imaging quality, making them valuable assets in any medical practice.
Surgical Microscopes
- Leica M520 w/ OH3 Base Multidisciplinary Microscope (Model: AM-LEICAM520-OH3)
- Zeiss Opmi Pico Microscope (Model: AM-ZEISS-OPMI-PICO)
For precision surgical work, a high-quality microscope is indispensable. These Leica and Zeiss microscopes offer unparalleled clarity and control, ensuring optimal outcomes in complex procedures.
Refrigerators/Freezers
- Accucold 49 Cu.Ft. Upright Pharmacy Freezer (Model: AM-AFS49ML)
- Accucold 24″ Wide Stacked Combination Refrigerator/Freezer (Model: AM-FF7LW-VT65MLSTACKMED2)
Temperature-sensitive medications and biological samples require reliable refrigeration. Our Accucold range of refrigerators and freezers ensures that your facility meets stringent storage standards.
Additional Savings with Auxo Medical’s Service Agreements
In addition to the tax savings you can enjoy through Section 179, Auxo Medical offers an added incentive for customers with active service agreements. If you have an active service agreement, you will receive 5% off any equipment purchase. This benefit, combined with Section 179 deductions, makes it even more affordable to upgrade your medical equipment.
To learn more about our service agreements and how they can help you save on equipment purchases, please contact us at 804.233.4424 or 888.728.8448.
How to Take Advantage of Section 179
To take full advantage of Section 179, it’s important to act now. The equipment you purchase must be financed, purchased, and put into use by December 31, 2024. Follow these steps to ensure you don’t miss out on these significant tax savings:
- Consult with Your Tax Professional: Before making any purchases, consult your tax advisor to understand how Section 179 can benefit your specific business.
- Choose Your Equipment: Browse Auxo Medical’s extensive inventory of qualifying medical equipment to find the right solutions for your facility.
- Finance or Purchase the Equipment: Auxo Medical offers flexible financing options through our partnership with Ascentium Capital, making it easier than ever to acquire the equipment you need.
- Get It Installed and Operational: Ensure that your equipment is installed and operational by the end of the year to qualify for the deduction.
- Use the Section 179 Tax Calculator: Use Ascentium Capital’s Section 179 Tax Calculator to estimate your tax savings.
Order Your Medical Equipment from Auxo Medical Now and Take Advantage of Section 179 Tax Benefits
As the 2024 tax year comes to a close, now is the ideal time to take advantage of the Section 179 tax deduction. By purchasing and installing qualifying medical equipment from Auxo Medical before December 31, 2024, you can significantly reduce your tax burden while upgrading your healthcare facility’s capabilities. With a wide range of equipment available—from C-Arms to anesthesia machines—and additional savings through our service agreements, Auxo Medical is your trusted partner in improving patient care and boosting your bottom line.
For more information, contact our sales team at 804.233.4424 or view and request a quote directly from our online medical equipment catalogue. Don’t wait—order now to ensure your equipment is installed and operational this year!
