Key Tax Breaks for Small and Mid-Size Businesses Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. 1. QBI deduction For 2018 through 2025,…
The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. Business owners should plan accordingly as first-year depreciation will begin to decline from…
As the midpoint of the year fast approaches, it’s a good time for manufacturers to assess their tax status and plan appropriate strategies for reducing their 2022 tax liability. Although each situation is unique, here are seven…
First-year bonus depreciation typically creates a powerful tax incentive for eligible manufacturers to purchase qualified property needed for business reasons. These tax write-offs can benefit a manufacturer’s cash flow, but claiming them isn’t always the best decision.…
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 taxes. You still have time to execute a few strategies. Purchase Assets Thinking about buying new or used equipment, machinery, or…
You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five important points to be aware of when it comes to this powerful tax-saving tool. Bonus…
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