This year has impacted businesses everywhere, both small and large. Business owners are adjusting to new normals and in many cases, accepting changes in their financials. For businesses, and aesthetic practices everywhere, this could be leading to second guessing the investment in new products and services that could actually bring in new customers and revenue streams. So this year, more than ever, it’s important to understand all the tools available to ensure you are investing in your business and continuing to plan for the future. Learning how your business can benefit from Section 179 is a great place to start.
Aesthetic Business owners are poised to benefit greatly by Section 179 and potentially save millions- that’s right, millions. Section 179 makes it possible to deduct the full price of new equipment purchased or financed during 2020 versus writing off smaller amounts over consecutive years. Therefore, your new CO2 laser or aesthetic platform device qualify as an in-year expense that reduced your tax obligation instead of amortized payments over the life of the asset.
The deduction limit under Section 179 is $1,000,000 and the yearly limit on purchased equipment eligible for the tax credit has been increased to $2,500,000. Given the cost of capital equipment, like a new RF microneedling machine or laser hair removal machine, the deduction limit is great enough that the new aesthetic technology you’ve been eyeing is well under the limit. Section 179 was established to encourage businesses to invest in themselves – it’s up to you to make it happen.
Thanks to Section 179, now is the best time to accelerate your tax benefits and save on new aesthetic technology to give your patients what they want in 2021. What might that be – Cartessa is here to help. Cartessa’s independent business model makes it possible to seek out the best aesthetic solutions the globe has to offer. Every potential product is evaluated on the basis of the results generated, the improvement in the patient experience and the positive ROI for providers. Cartessa’s portfolio offers a range of options from multiple manufacturer’s and countries. The conversation starts with understanding your business goals, your current offerings and then we determine what solution makes sense. For example, Cartessa has more than one laser hair removal technology because every practice has different patient needs and financial considerations.
Cartessa Aesthetics also understands that there is more than one factor when deciding to bring on a new device. We’ve built our business around being your agent in aesthetics, providing next level practice development and marketing to help ensure your success post purchase. Additionally, we’ve partnered with companies like MedShift, a subscription service provider that enables medical practices to get the latest equipment and technology and offer exclusive internal financing options to meet the needs of your business.