If you are an individual, partnership or a professional corporation, you can now immediately write off up to $1.5 million of eligible assets each year that you acquired after April 9, 2021 that become available for use before January 1, 2024. The annual limit must be shared among associated companies.
The assets that qualify for the immediate write-off include automobiles and equipment. Assets that do not qualify for this immediate expensing incentives are generally long-lived assets such as buildings and goodwill.
Please note that leasehold improvements qualify for immediate expensing therefore you should consider opening or renovating a clinic space before the end of 2023.
