IRS urges small businesses to take advantage of one-time tax breaks

NEWS IN BRIEF — Posted June 8, 2009

Print  |   Email  |   Respond  |   Reprints  |   Like Facebook  |   Share Twitter  |   Tweet Linkedin

Physicians who are small-business owners may be able to improve their bottom lines via several tax provisions in the American Recovery and Reinvestment Act, but time is limited, according to an Internal Revenue Services statement.

The recently passed stimulus law extends the 50% depreciation allowance on new business-related property and equipment through the end of this year. Up to $250,000 of the cost of qualifying purchases can be deducted in 2009, using form 4562.

Small businesses that took in an average of less than $15 million in annual gross receipts for the past three years and lost money in 2008 can carry losses back for up to five years, instead of the usual two. This could lead to a special tax refund. More information is available from the IRS (link).

Note: This item originally appeared at

Back to top



Read story

Confronting bias against obese patients

Medical educators are starting to raise awareness about how weight-related stigma can impair patient-physician communication and the treatment of obesity. Read story

Read story


American Medical News is ceasing publication after 55 years of serving physicians by keeping them informed of their rapidly changing profession. Read story

Read story

Policing medical practice employees after work

Doctors can try to regulate staff actions outside the office, but they must watch what they try to stamp out and how they do it. Read story

Read story

Diabetes prevention: Set on a course for lifestyle change

The YMCA's evidence-based program is helping prediabetic patients eat right, get active and lose weight. Read story

Read story

Medicaid's muddled preventive care picture

The health system reform law promises no-cost coverage of a lengthy list of screenings and other prevention services, but some beneficiaries still might miss out. Read story

Read story

How to get tax breaks for your medical practice

Federal, state and local governments offer doctors incentives because practices are recognized as economic engines. But physicians must know how and where to find them. Read story

Read story

Advance pay ACOs: A down payment on Medicare's future

Accountable care organizations that pay doctors up-front bring practice improvements, but it's unclear yet if program actuaries will see a return on investment. Read story

Read story

Physician liability: Your team, your legal risk

When health care team members drop the ball, it's often doctors who end up in court. How can physicians improve such care and avoid risks? Read story

  • Stay informed
  • Twitter
  • Facebook
  • RSS
  • LinkedIn