SECTION 179: THE TAX CODE THAT MAKES INVESTING IN YOUR AESTHETIC BUSINESS THAT MUCH SWEETER

It’s that time again: the holidays. Amid all the gift-giving and spreading of cheer, you may also find yourself inundated by holiday discounts and tax savings communications. 

However, few opportunities offer the true upside of Tax Code Section 179. It’s important to take the time to understand the benefits of this business-building policy and why now may be the right time to invest in the latest aesthetic technology to set your business up for success in 2024 and beyond.

What Is Section 179?

Section 179 of the IRS Tax Code allows businesses to write off the full purchase price of any qualifying piece of equipment in the year it was purchased or financed.  Businesses can therefore lower their current-year tax liability versus capitalizing an asset and depreciating it over time for the benefit of future tax years. Section 179 was designed to help small businesses invest in themselves so that they are in a position to grow. 

How Can I Take Advantage of Section 179?

For aesthetic businesses, new energy-based devices can be that highly lucrative investment to take them to the next level, and Section 179 makes that investment easier. 

Aesthetic businesses can deduct 100% of the cost of qualifying aesthetic technology. For the year beginning 2023, aesthetic companies can deduct up to about $1.16 million of the total cost of eligible technology (up from $1.08 million in 2022). There is a cap of $2.89 million on the amount a company can spend on property as a whole in one calendar year (up from $2.7 million in 2022). 

For instance, Section 179 makes it worthwhile to purchase a fully loaded VirtueRF platform before the year is out. The uniquely expandable RF microneedling technology has the option for three handpieces. The revenue potential is exponential as this platform makes it possible to offer highly effective and MORE comfortable collagen stimulating treatments for the face, neck, and body.  The ExactRF single needle handpiece can uniquely tackle the delicate area around the eyes.

Already have a VirtueRF? Add the #1 CO2 laser TetraCO2 and increase your RF Microneedling revenue per treatment by 50% by adding a no-downtime CoolPeel on top OR invest in the NEW Helix.  HELIX builds on the advancements of the TetraCO2 – the pulse control that makes the CoolPeel possible – and adds a 1570nm fiber laser to perform ablative and non-ablative skin resurfacing procedures on their own or in combination. The results are impressive, so it’s no surprise HELIX is quickly becoming providers’ new favorite device.

Patients look for providers that have the latest technologies and services and can offer better outcomes and experiences. Talk to your tax professional to understand your financial circumstances and how to take advantage of Section 179. 

Then, call Cartessa Aesthetics. We have vetted aesthetic technologies from around the globe to give our customers assurance that our devices offer a true benefit over other options.  Our diverse portfolio allows us to start with your business goals and your current offerings and then determine what new solution makes sense for 2024 and beyond.

To be qualified for this benefit, equipment needs to be put into service before the end of the year. Now really is the time to put the order in for the new device you’ve been eyeing or expand your investment to maximize future revenue. 

Have questions about Section 179, the 2023 promotions still available, and our best-in-class aesthetic technology? Contact us today!