Here’s good news for the small business owner… By combining the home-office deduction with the purchase of a “heavy vehicle,” you can knock a lot of money off your tax bill. Whether you’ve structured your business as a corporation or a sole proprietorship, this powerful vehicle/home-office combo can save you a bundle as you’ll learn when you read the full article. Here’s … [Read more...]
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Avoid Lost Deductions When Corporate Vehicle Is in Your Personal Name
Do you operate your business as an S or C corporation? Then be careful! You see, if you use your personal vehicle for corporate business, you could risk losing valuable tax deductions. If you want to stay on the right side of the law and keep money in your pocket, Read my new article Tax Tips: Avoid Lost Deductions When Corp. Vehicle Is in Your Personal Name! Here’s … [Read more...]
Put safe harbor expensing to work now!
What are your new year’s resolutions for 2017? To lose weight? To exercise more? Here’s another resolution you should make and act on now. Put your safe harbor de minimus expensing in place! Why is it worth doing so immediately? Because Uncle Sam’s safe harbor eliminates the burden of … Tracking small-dollar cost assets in your books of account Depreciating … [Read more...]
Two big tax breaks for retailers!
Good news! Last December, lawmakers voted to give retailers some much-deserved tax relief. The law they passed allows you to immediately (and/or very quickly) deduct up to the entire cost of certain improvements you make to your property. This can amount to hundreds of thousands of dollars as you’ll learn when you read my new article titled Tax Tips: Two Special Tax … [Read more...]
Good news for commercial property owners!
If you own commercial property, you’ve got to love the “Protecting Americans From Tax Hikes (PATH) Act” that’s now the law. Why? Because, thanks to the PATH Act, qualified leasehold improvements to your commercial property can deliver three huge tax-deduction-acceleration breaks through 2019! Want to find how to put this extremely helpful new law to work for you? Read my … [Read more...]