Bigger Section 179 Deduction: Your optical business may be able to take advantage of the temporarily increased Section 179 deduction. Under the Section 179 deduction privilege, an eligible business can often claim first-year depreciation write-offs for the entire cost of new and used equipment and software additions. For tax years beginning in 2011, the maximum Section 179 deduction is $500,000. However, in 2012 the maximum deduction is scheduled to drop back to $125,000.
Don’t wait for your tax accountant to call you at the end of December and tell you to buy optical equipment before the end of the tax year! Leo Hadley of Vision Systems says he gets slammed with calls at the end of the year from optometrists and ophthalmologists whose tax accountants have told them they need to spend more for tax write off reasons. Leo often has to work with his customers to find out what they need as they are in “panic” mode. So best to analyze your optical equipment needs now rather than waiting until December! Spend Tax Savings Wisely Plan Ahead.
Santinelli International says that many of their customers are surprised and thrilled to learn that the 2011 Section 179 Tax Deduction allows them to write off their entire lens edger purchase – saving up to 33% of the purchase price, instead of paying Uncle Sam. Santinelli advocates adding a “Third Profit Center”! If your practice is just doing exams and running a dispensary, you’re missing out on your “Third Profit Center”: In-Office Finishing. Wouldn’t you want to offer patients faster turnaround, have better quality control and increase profitability at the same time? A new Santinelli Lens Edging System allows for the absolute best possible return-on-investment and the best option to take advantage of 2011 tax incentives..
Do you edge high index lenses? AIT Industries recently launched its new airMAX Universal Lens Edger Purification System. The airMAX hooks up in line with up to two wet patternless edging systems removing dust and foul smelling odors that are produced from cutting high-index lenses. Its durable industrial design means you will get many years of trouble free operation and its high-density carbon filter allows you to breathe easy about the air quality in your lab. airMAX is a great benefit to optical shop located in malls or that have poor ventilation. “We developed the airMAX specifically to enhance the work experience of employees in optical labs and customer satisfaction in limited space environments.” says Matthew Vulich, Vice President of Marketing.
Thinking about “in-office” lens production? Fastgrind was designed for the small to medium size dispensary. The “all-in-one” system utilizes a simple three pad process to generate, fine and polish prescription lenses using only tap water. There are no chemical, resins or slurries. Since the first installation over fifteen years ago, Fastgrind has outlasted 7 casting/molding systems. Fastgrind has hundreds of satisfied customers in over 40 countries around the world.
Spend Tax Savings Wisely Plan Ahead.