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Back on February 7, 2008, the Economic Stimulus Act of 2008 was passed by both the House and Senate. As the title suggests, this bill was intended to stimulate the U.S. economy and there are some great tax incentives available much like the ones we saw after 9/11. What does this mean for the dental industry?

It means that Section 179 Expense Limit is temporarily increased from $128K to $250K for the fiscal year 2008. As if this werent enough, there is also a Bonus Depreciation, in which the doctor will be able to claim a special first-year depreciation of 50% of new property acquired and placed in service during 2008. This bonus depreciation is in addition to the regular depreciation and any Section 179 deduction claimed. Not only that, but the Deduction Phase Out directive has gone from $500K to $800K, meaning that the doctor will not lose anything off of the $250K deduction until he/she reaches $800K in purchases. To put this in working terms, lets assume Dr. Jones purchases $400K in equipment (check with your accountant regarding eligible leasehold improvements) during 2008.

Maximum Section 179 deduction for 2008- $250,000

$400,000 minus $250,000$150,000

$150,000 x 50% special depreciation allowance$ 75,000

$75,000 remaining basis x 20% regular MACRS- $ 15,000

Total depreciation allowed$340,000

Economic Stimulus for the Dental Industry