Understanding the best approach to depreciation can be game-changing for your business. Don’t miss out on essential tax savings that could optimize your cash flow. Click to explore effective strategies...
First-year bonus depreciation and Sec. 179 expensing: Watch out for the pitfalls Many companies are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders...
Bonus Depreciation for Qualified Improvement Property – Technical Error Fixed Due to a technical error in the December 2017 tax act, qualified improvement property placed in service after December 31, 2017,...
Earlier this year, Congress finally passed legislation that corrects a drafting error related to real estate qualified improvement property (QIP). The correction is part of the CARES Act. It retroactively...
The December 2017 tax act (TCJA) eliminated NOL Carrybacks, and limited NOL Carryforwards to 80% of taxable income. The 2020 CARES Act temporarily eliminated these provisions and increased the previous...
On December 22, 2017, the President signed into law new tax legislation that lowered some tax rates and eliminated or changed numerous tax provisions. This article will focus on some...