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DVM Newsmakers' Summit: Consumer expectations, standards of care are changing, panelists say
July 1st 2008Editor's Note: Understanding consumer behavior can help you as a clinician and business manager. DVM Newsmagazine asked five veterinary market leaders to join this year's DVM Newsmakers' Summit at CVC East in Baltimore. Following is the second of three excerpts from the panel discussion; the final one will be published next month.
Is it a repair, or a capital expense?
July 1st 2008In this age of disposables, many veterinary practices still pay substantial sums for repairs and maintenance. However, instead of allowing immediate tax deductions, the Internal Revenue Service increasingly is labeling repair and maintenance expenses as "capital improvements," making them recoverable only through depreciation spread over a number of years.