Section 179 Or Bonus Depreciation?
Bonus depreciation rules now allow for 100% write-offs and are expanded to include big-ticket items like the purchase of used equipment. So is there any reason to expense these purchases as part of Section 179 deductions instead? Thomson Reuters Tax & Accounting offers several answers in this full article. In a nutshell: Section 179 can […]
Small Businesses: Avoid Tax-Return Fraud This Year
The IRS has seen an increase in corporate and small business tax-return fraud. From stolen employer identification numbers (EINs) to fake Schedule K-1s for S corporations, it’s important to be on the lookout for signs your business has been compromised. The most common business related tax-return fraud issues right now include those affecting Forms 1120 […]