Maximize Tax Deduction Opportunities by December 31

The Vendor Relations Committee would like to form a collective purchasing group of TSO Network Offices interested in capital equipment purchases prior to December 31, 2013. Section 179 of the United

States Internal Revenue Code (26 U.S.C. § 179), allows a taxpayer to elect to deduct the cost of certain types of property on their income taxes as an expense, rather than requiring the cost of the property to be capitalized and depreciated. This property is generally limited to tangible, depreciable, personal property which is acquired by purchase for use in the active conduct of a trade or business.

For the Doctors of TSO, utilizing a Section 179 deduction means your office can purchase a piece of capital equipment prior to December 31, 2013, and be eligible for a 100% deduction on your 2013 tax return. The amount of the deduction can be equal to or less than your annual office profit for 2013.

If your office plans to purchase any capital equipment prior to year-end, please contact Vendor Relations Committee member Dr. Cameron Smith at mansfield@tso.com or (682) 518-1177 by November 10, 2013. You may also speak with Mansfield Business Manager Tony Zinnante.

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