by Doug Kook | Jan 17, 2020 | Business Strategy, Estates & Trusts, Financial Planning, Small Business, Tax
A significant law was recently passed that adds tax breaks and makes changes to employer-provided retirement plans. If your small business has a current plan for employees or if you’re thinking about adding one, you should familiarize yourself with the new rules. The...
by Sheri Hart | Dec 5, 2019 | Business Strategy, Small Business, Tax
At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related tax breaks that may help your business reduce its 2019 tax liability. To benefit from these...
by Sheri Hart | Jul 26, 2019 | Business Strategy, Financial Planning, Small Business, Tax
There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time....
by Sheri Hart | May 28, 2019 | Financial Planning, Small Business, Start-ups, Uncategorized
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses...
by Sheri Hart | Jan 30, 2019 | Financial Planning, Small Business, Tax
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 depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more...