/Tag: bonus depreciation

A couple of tax saving tools for your business at the year’s end

By |2020-03-30T21:17:10+00:00December 18th, 2019|Categories: Blog, News|Tags: , , , , , , |

At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related tax breaks that may help your business reduce its 2019 tax liability. To benefit from these deductions, you must buy eligible machinery, equipment, furniture [...]

Bonus Depreciation for Your Business: Let’s Review Your Options

By |2020-03-01T04:08:44+00:00November 5th, 2019|Categories: Articles, Blog|Tags: , , , , , |

  First-year bonus depreciation has been around for a while now. However, the Tax Cuts and Jobs Act (TCJA) set forth more generous, but temporary, rules for 2018 through 2026. Recent IRS guidance gives you additional flexibility to fine-tune the bonus depreciation break to suit your specific business and personal tax circumstances. Here's what you [...]

How Much Can Businesses Deduct for Vehicles Placed in Service in 2019?

By |2020-03-04T21:12:46+00:00October 29th, 2019|Categories: Blog|Tags: , , , , , |

Does your business need to add one or more vehicles? If so, the purchases may qualify for tax breaks under current tax law. Here are the details. First-Year Depreciation Breaks The Tax Cuts and Jobs Act (TCJA) allows unlimited 100% first-year bonus depreciation for qualifying new and used assets (including eligible vehicles) that are [...]

Maximize Depreciation-related Tax Breaks While You Still Can

By |2017-05-24T13:42:41+00:00October 15th, 2012|Categories: News, Tax Planning|Tags: , , , , , |

Many businesses may benefit from purchasing assets by Dec. 31 to take advantage of depreciation-related deductions that are scheduled to either disappear or become less favorable in 2013: Bonus Depreciation: For qualified assets acquired and placed in service through Dec. 31, 2012, this additional first-year depreciation allowance is, generally, 50%. Among the assets that qualify [...]

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