If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep…
The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners. Rates and brackets…
The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation adjustments. And due to high inflation, the adjustments…
Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should you? It’s not as…
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d…
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be…
Even though pretty much every business has a website, the costs of developing and managing a website aren’t specifically addressed in the tax code. But since those costs are business…
To run a successful business, you need to focus on more than just day-to-day operations. It’s also critical to pay attention to all aspects of your business – sales &…
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here's a rundown of those that may be important to…
Commercial property is generally depreciated over 39 years, and residential rental property over 27.5 years. Real property is more than just the building itself – it also contains plumbing, fixtures,…