Construction business owners: Does your company substantially contribute to the design of government-funded projects? If so, you may be able to claim a valuable tax deduction.
Can you benefit from the Inflation Reduction Act’s expansion of two tax incentives for energy-efficient construction of commercial and residential buildings? These are the Sec. 179D deduction and the Sec. 45L credit.
Before you know it, the end of 2022 will be near. Here are some year-end moves to consider that may help your small business save on taxes.
If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax break.
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.
How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they contribute to 401(k) plans this year? Here are the answers to these and other questions about tax-related inflation adjustments and changes affecting businesses.
Before Dec. 31, your business should buy any needed business assets and place them in service. That way, you can take advantage of the Section 179 deduction and bonus depreciation.