Tax Pro Plus
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Los Angeles, CA 90064
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- Place It In Service If You Want To Deduct It
- Section 179 is a provision of tax law that allows owners of small businesses to expense rather than depreciate equipment purchases made during the year. It is also a popular tax-planning tool allowing business owners to reduce their income for the year by making last-minute year-end purchases. For 2017 up $510,000 ($255,000 for married taxpayers filing separate) of qualifying expenses can be written off. Qualifying property includes machinery, tools, computer equipment, certain leasehold improvements, etc.
- Tax Reform and Your Taxes
- Well, the Tax Cuts and Jobs Act (H.R. 1) has passed, mainly starting in 2018, and if you are confused by how this new law will impact you, you’re not alone. As has become the norm for Congress, it played brinksmanship and waited to almost the end of the year, in the midst of the holidays, to pass this very extensive tax bill, providing little time for anyone to plan for 2018.
- Year-End Tax Planning and Maximizing the Education Tax Credit
- Year-End Tax Planning and Maximizing the Education Tax Credit
- Only 10 Days Left for 2017 Tax Deductions
- As the end of the year is getting close, this is a reminder that Sunday, December 31, is the last day that you can make a tax-deductible purchase, pay a tax-deductible expense, make a tax-deductible charitable contribution, or pay tax-credit-qualifying tuition or expenses for 2017.
- Should You Prepay Taxes before Year-End?
- Should You Prepay Taxes before Year-End?
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