Is your business expecting a very profitable year, knowing you will have a painful income tax debt to pay next April? Do you have plans to purchase some equipment within the next six months? If so, ...

With the large increase of Section 179 deduction for 2010 and 2011 to $500,000 and 50% bonus depreciation on new assets in 2010 and possibly 100% in 2011, it is now even more important for your tax ...

Your article was successfully shared with the contacts you provided. This is the 11th in a series of 23 tax tips that AdvisorOne is publishing on each business day in March as part of our Tax Planning ...

I started my farming operation in late 2011 and purchased property that included drain tile and a gravel road. As I understand these qualify for 179 expense deductions after I allocate my purchase ...

Wylie Wong is a freelance journalist who specializes in business, technology and sports. He is a regular contributor to the CDW family of technology magazines. For business owner Ric Lee, taking ...

The section 179 deduction allows a small business to take a tax deduction for the entire cost of certain property and equipment in the year it buys that property. That produces a larger, more ...

Although no direct tax credits are available for the business ownership of trucks, a small business can use the tax rule that allows 100 percent deduction of a new truck purchase if the truck is a ...

Long ago, in 1958 Congress passed one of its many laws making “technical corrections” to the Internal Revenue Code. Mostly, these are truly technical corrections but there are times when substantive ...

The Act permanently extends Section 179 of the Internal Revenue Code of 1986, as amended (the “Code”), which provides taxpayers with an election to expense certain depreciable business assets ...

Q: In early 2008, I opened a new business and purchased furniture, fixtures and equipment. Will I be able to deduct all these purchases on my 2008 tax returns? A: Yes, you will be able to deduct part ...

After the Commercial Clean Vehicle Credit (Section 45W) expired on September 30, the “experts” rushed out predictions of an EV sales slowdown in Q4. But, with over 6,800 pages in the Internal Revenue ...