Original article published online at GMGSavings.com/specialized-tax-incentives-for-the-medical-health-care-industry/ 8/7/12.. To share article via social networks please go to the original posting and share via links.
If you have yet to hear; Local, State, and Federal Governments have been feverishly enacting numerous incentives to help stimulate business economies. Due to the high tax brackets of most medical practitioners, these incentives are now an essential part of the tax planning process. If you haven’t had a thorough review of your qualifications for incentives, keep reading.
How Much Money is Available?
The average available benefit for a small practice with their own building is $160,000.
The following is a list of common qualified practitioners:
- Dentists & Orthodontists
- Dermatology & Skin Care
- Vision & Eye Care
- General Practicioners
- Medical Imaging
How Do I Qualify?
You may qualify if you meet any of the following:
- Own Commercial Property
- Directly Employ U.S. Staff
- Pay Real or Personal Property Tax
- Pay State or Federal Income Tax
- Perform Energy Efficiency Upgrades
- Upgraded Equipment Purchases