IRS Issues New 2022 Rules for Passenger Car Depreciation The IRS has provided updated tables containing: 1. Depreciation deduction limits for passenger automobiles placed in service in 2022, and 2. Dollar amounts that must be used to determine the annual income...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
depreciation
Depreciation and Business Real-Estate
DEPRECIATION-RELATED BREAKS ON BUSINESS REAL ESTATE: WHAT YOU NEED TO KNOW WHEN YOU FILE YOUR 2018 RETURN Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the...
Major Tax Law CHanges for Small Business Owners
A REFRESHER ON MAJOR TAX LAW CHANGES FOR SMALL-BUSINESS OWNERS The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to...
Buy business assets before year end to reduce your 2018 tax liability
Buy business assets before year-end to reduce your 2018 tax liability 2018 Year End Tax Planning The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these...
SHould you Buy a Business Vehicle THis Year?
SHOULD YOU BUY A BUSINESS VEHICLE BEFORE YEAR END? One way to reduce your 2017 tax bill is to buy a business vehicle before year end. But don’t make a purchase without first looking at what your 2017 deduction would be and whether tax reform legislation could affect...
