Bonus depreciation allows businesses to recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Protecting Americans from Tax Hikes Act of 2015 […]
With Congress returning from its August recess, this is the question on tax-savvy Americans’ minds. Many valuable tax breaks aren’t permanent, so Congress has to pass legislation extending them to […]
For assets with a useful life of more than one year, businesses generally must depreciate the cost over a period of years. Special breaks are available in some circumstances, but […]
Whether you need a single 4-door sedan or an entire fleet of 14-wheelers, how you acquire vehicles for business use has tax consequences. In most cases, you’ll have one of […]
While the depreciation methods you use for business tax deductions have changed over time, the basic underlying idea remains the same: tangible assets generally have a limited lifespan, and the […]
Did you know that bonus 50% first-year depreciation will no longer be available to your business in 2014 and beyond? And that the Section 179 expensing limit, which allows you […]
The American Taxpayer Relief Act of 2012 (ATRA) gave business owners a question to consider. If you’re in the market for business assets such as equipment and software, should you […]
In January, Congress extended some depreciation-related tax breaks that can benefit owners of leasehold, restaurant and retail properties: 50% bonus depreciation. Congress extended this additional first-year depreciation allowance to qualifying […]
For most individuals, the ordinary federal income tax rates for 2013 will be the same as last year: 10%, 15%, 25%, 28%, 33%, and 35%. However, the fiscal cliff legislation […]