by Brian Hare, CPA, CGMA | Jun 16, 2021 | Business
Most of us are taught from a young age never to assume anything. Why? Well, because when you assume, you make an … you probably know how the rest of the expression goes. A dangerous assumption that many business owners make is that, if their companies are profitable,...
by Paula Kennedy, EA | Dec 1, 2020 | Tax
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property to cash in on depreciation tax savers. You may find benefits from the Section 179 depreciation tax deduction for...
by Brian Hare, CPA, CGMA | Dec 10, 2019 | 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 Brian Hare, CPA, CGMA | Jul 25, 2019 | 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 Brian Hare, CPA, CGMA | Mar 27, 2019 | Tax
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets. Although there’s no universal “right” choice, many businesses that formerly leased assets are now deciding to buy them. Pros and...
