Earlier this year, House Republicans introduced the American Families and Jobs Act, a package of three new taxA tax is a mandatory payment or charge collected by local, state, and national governments ...

The $32,000 Section 179 heavy-SUV limit does not cap bonus depreciation. Depending on business-use percentage and the ...

A bipartisan deal between leaders of the House and Senate tax-writing committees would raise limits on the Section 179 expensing provision that is popular with farmers. The deal also would restore a ...

The IRS has issued guidance on deducting expenses under Section 179(a) and on deducting depreciation under Section 168(g). Processing Content These rules, in Revenue Procedure 2019-08 and as amended ...

Stacking Section 179 and 100% bonus depreciation lets business owners deduct the full cost of a $100,000 heavy SUV in year one. The SUV must exceed 6,000 lbs GVWR, be placed in service by December 31, ...

Is your business expecting a very profitable year, knowing you will have a painful income tax debt to pay next April? Do you have plans to purchase some equipment within the next six months? If so, ...

After the Commercial Clean Vehicle Credit (Section 45W) expired on September 30, the “experts” rushed out predictions of an EV sales slowdown in Q4. But, with over 6,800 pages in the Internal Revenue ...

It's looking like another strong year for commodity prices. Even with higher input costs, many farmers may see substantial income. Come tax-planning time, they will be looking for opportunities to ...

DEPRECIATION OF LUXURY CARS requires careful analysis due to recent tax law changes. OPTIMIZATION OF LUXURY-VEHICLE DEPRECIATION demands thoughtful analysis of the IRC section 179 expense allowance, ...