It’s a simple fact. Antique desks, clocks, cabinets, bookcases, rugs, conference tables, paperweights, and more, can add character and beauty to your office. But that’s just for starters because: Antiques can make great investments. They often appreciate in value. You can deduct antiques as a business expense if you know how to take advantage of the tax law. You’ll … [Read more...]
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How to maximize your first-year, business-vehicle tax deduction
When it comes getting a tax deduction, all vehicles are not created equal. In fact, there are huge differences in what you can deduct, depending on whether you buy a car, a pickup truck, or an SUV. And that’s just for starters. You see, the differences within each of these categories actually depend on the weight of the vehicle! If you want to be a winner the next time you … [Read more...]
Boost deductions when you use more than one vehicle
Do you have more than one car in your household? If the answer is “yes,” my new article makes must reading. You see, if you consult the tax code, you’ll discover that you can score some hefty tax deductions by using more than one vehicle for business. What exactly does the IRS have to say about multiple vehicle use? How can you save money by driving more than one … [Read more...]
Should you buy or lease your business vehicle?
Thinking about getting a new vehicle for your business? Then you have to make a tough decision… Should you buy or should you lease? Unfortunately, deciding which option saves you the most money isn’t always easy. Sure, you’ve got to consider out-of-pocket costs, but you also have to think about how much cash you have available, the tax benefits each approach provides, and the … [Read more...]
Create a deduction for an “entertainment facility”
Do you use any of the following for business entertaining? yachts + hunting lodges + fishing camps + swimming pools + tennis courts airplanes + apartments + hotel suites + or similar facilities If you do, you may be able to deduct the use of these “entertainment facilities” and reduce your tax bill. But be careful! The IRS can be tough on these deductions which is why smart … [Read more...]