A community of 30,000 US Transcriptionist serving Medical Transcription Industry


Using EMR give tax break to companies - AnnieOakley


Posted: Dec 09, 2011

Ran across this on Internet. Interesting.

Section 179 Tax Code-2011 Expires 

Section 179 has been extended to 2011 and made BIGGER!

Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying Software/Equipment purchased or leased during the tax year. That means that, if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income.

Cost of the Equipment/Software: $150,000
Section 179 Depreciation Write Off: <$150,000>
Tax Rate Assumption: 35%
Tax Savings on Your Equipment: $ 52,500 ($150,000 times 35%)
Net Cost of Equipment After Write- Off: $ 97,500

Source: www.section179.org

Yes, there are tax breaks and.... - Reader

[ In Reply To ..]
Don't forget the THOUSANDS IN CASH INCENTIVES (for each practice; the cost of that program to us taxpayers is in the BILLIONS) the government is waving in front of these doctors and administrators.

Instead of becoming angry with specific companies (I'm not saying they're blameless, but companies are merely operating within the milieu that the feds created), the finger of blame should be squarely pointed at the GOVERNMENT. The government wants all of this to happen or it would NOT be taking place.

So YOUR TAX DOLLARS are being USED TO DESTROY YOUR JOBS. Nice, huh?

Exactly right - wrkn4pnuts

[ In Reply To ..]
We need to quit being apathetic and pay attention to what our government does. It has gotten way, way out of control. Vote your conscience.

This really isn't a whole lot different than - alan

[ In Reply To ..]
what has been going on for businesses that invest in computer systems, software, or other capital. Before 2003, businesses would be allowed a tax break over several tax years. In 2003, that changed and company purchases up to 100k could be used as a deduction in one tax year. This expands that a little bit. It is not a specific reward for EMR but for large investments.


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