bonus depreciation

Need a new business vehicle? Consider a heavy SUV

Need a New Business Vehicle? Consider a Heavy SUV

Are you considering buying or replacing a vehicle that you’ll use in your business? If you choose a heavy sport utility vehicle (SUV), you may be able to benefit from…

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Accounting for property, plant and equipment (PPE) assets

Accounting for Property, Plant and Equipment (PPE) Assets

Businesses and nonprofit entities capitalize machines, furniture, buildings, and other property, plant and equipment (PPE) assets on their balance sheets. Here’s a refresher on some common questions about how to…

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depreciation

What Depreciation Advantages are Available in 2020

The year 2020 is now over and many people are saying, “Thank goodness!” The COVID-19 pandemic has caused us all to dramatically change our normal routines, alienated us from friends…

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qualified improvement property

Qualified Improvement Property: Beware of a Potential Tax Trap

In the current economic environment, cash flow is a precious commodity. Construction companies need to make the most of depreciation deductions that can reduce their tax bills. Fortunately, several provisions…

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depreciation

Small Businesses: Cash in on Depreciation Tax Savers

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. If so, you…

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CARES Act

The New COVID-19 Law Provides Businesses with More Relief

On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus…

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qualified improvement property depreciation

Depreciation-Related Breaks on Business Real Estate: What You Need to Know When You File Your 2018 Return

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.)…

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