COVID-19 UpdateAs the situation surrounding COVID-19 (Coronavirus) continues to develop, Watermark Medical’s focus on the health and safety of our staff, partners, customers and patients is our top priority. We are closely monitoring guidance from the CDC and other public health organizations and taking appropriate action to ensure we continue to provide uninterrupted technical support, as well as maintain clinical and diagnostic services for our home sleep testing clients. While most of our technical and clinical staff are working remotely, we currently maintain shipping/receiving and quality assurance services from our office to manage device maintenance and repair requirements.
A few questions regarding the coronavirus outbreak have been specifically asked about the cleaning processes of the ARES device. Our cleaning procedure (when followed as described in the ARES Product Guide) has been validated and meets agency guidelines to mitigate the transfer risk of bacteria and viruses. For our customers safety, the ARES User Guide intended to be given or reviewed with each patient, includes instructions for the patient to place the device back in the plastic bag to return to the issuing facility. Once cleaned, storing the ARES device in a new resealable plastic bag will help ensure that the ARES remains clean and ready for the next patient use. Those who clean the devices after patient use can limit their chance of exposure by proper use of gloves and frequent washing of their hands. We are monitoring guidelines from CDC and other regulatory agencies and will adjust our procedure if their recommendations change.
Section 179* encourages small business owners to invest in equipment or technology by allowing them to deduct the asset's value for the tax year in which it is purchased and put into service. The 2021 maximum deduction is $1,040,000 on purchases up to $2,590,000. You may be able to deduct purchases of new or used equipment, technology, and off-the-shelf software, but also many deduct certain improvements to non-residential property including roofs; heating, air-conditioning, ventilation systems; fire protection, alarm, and security systems. (Note: The improvements must be purchased and placed into service by December 31, 2021, and after the date the property was first placed in service). In addition, the first-year bonus depreciation is 100% on qualifying long-term assets. The bonus depreciation applies to both new and used property and the amount is scheduled to remain in effect until January 1, 2023.
A- Equipment Price
Tax Savings* (From F)
New Equipment Net Cost
* Watermark Medical, Inc.© does not provides tax advice. Please consult with a qualified professional tax advisor to determine your eligibility for a Section 179 tax deduction. Must purchase and place into service by December 31, 2021.
Watermark Medical, Inc.© does not provide financial advice. Please consult with your financial advisor. Watermark Medical, Inc.© is not a bank and does conduct banking activities.