Monthly Archives: December 2012

IRS Finalizes New Tax for Medical Devices in Healthcare Law

According to Reuters, the IRS released final guidelines for a new medical device tax. Although the 2.3% tax will not apply to smaller, over-the-counter equipment, higher-end devices used by medical professionals will incur the fee after December 31.

Deductions will also be effected by the medical tax. Current deductions are at $139,000. Next year deductions will be at $25,000.

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