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©2022 Covetrus, Inc. All rights reserved. No copying without consent. Lit. No. 2SOL256-09152022
Contact Covetrus for more information: call 801.688.6467 or email shon.bjerregaard@covetrus.com
Example Calculation:
Please speak to a qualified tax professional if you
are seeking advice about your specific business
or tax circumstances. Covetrus
®
does not provide
professional accounting services.
THIS IS FOR INFORMATIONAL THIS IS FOR INFORMATIONAL
PURPOSES ONLY. PURPOSES ONLY.
Source: section179.org
Don't miss out
on potential tax
benefits in 2022!
Your practice could be eligible for the Section 179
tax deduction for purchases made on equipment
and software in 2022. Visit Section179.org or
contact your tax professional to learn more!
The Section 179 deduction is good on new and used
equipment, as well as off-the-shelf software. To take the
deduction for tax year 2022, the equipment must be financed
or purchased and put into service between January 1, 2022
and the end of the day on December 31, 2022.
$2,500,000 is the maximum amount that can be spent on
equipment before the Section 179 Deduction begins to be
reduced on a dollar for dollar basis.
100% Bonus Depreciation is taken after the Section 179
Spending Cap is reached. The Bonus Depreciation is available
for both new and used equipment.
2022 Equipment
Purchases Total
$125,000
Section 179
Deduction
$125,000
Cash Savings
on Your Purchase
$30,000
New Cost of Equipment
After Tax Savings
$95,000
*Example assumes a 24% tax bracket