Bonus depreciation is available for qualified property such as office furniture and equipment . 2017 may be an especially good year to take bonus depreciation on your tax return. Here’s why.
Providing employee benefits can help businesses attract and retain the best workers. But the cost can be out of reach for some small businesses. Two tax credits can help make benefits more affordable.
On December 22, 2017, President Trump signed into law the "Tax Cuts and Jobs Act" (P.L. 115-97), a sweeping tax reform law that will entirely change the tax landscape.
Bonus depreciation allows businesses to deduct more of an asset’s cost in the year the asset is placed in service. The new tax law’s enhanced bonus depreciation provision may save tax on your 2017 return.
For individual taxpayers, most Tax Cuts and Jobs Act provisions will apply only for 2018 through 2025. But they’ll generally have a big impact during that time.
Companies nowadays have a wide variety of outsourced services to choose from. But deciding whether to engage an external provider calls for a careful assessment of the benefits vs. risks.
