If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax break.
Get your piece of the depreciation pie now with a cost segregation study
Your business may gain substantial tax benefits with a cost segregation study, but they’re not right for everyone. Here’s how this strategy can help accelerate depreciation tax deductions on the building that houses your operation.
Tax depreciation rules for business automobiles
Claiming depreciation deductions for a passenger automobile can involve complex calculations. Here are the basic rules.
Accounting for property, plant and equipment assets
Which asset costs must be capitalized, how long will an asset provide value and which depreciation method is appropriate? Click the link for answers to common questions on reporting property, plant and equipment.
Cost Segregation Studies Gone Wrong
For many, rapidly accelerating the depreciation on a commercial building by utilizing a cost segregation study is a no-brainer. Commercial properties are depreciated over 39 years by default, which is an awfully long time to recover the tax benefits of your cost. If you can frontload those deductions, it only makes economic sense. Right? Well,[ … ]