Summer Tax Breaks

Summertime is in full swing, and that means vacations, cookouts, lots of outdoor activities, and extra time with the family. Summertime is also full of opportunities for tax breaks. Read on for five ways to make summer work harder for you! Tax Breaks for Summer Camp and Childcare Summer camps are a great way for … Continued →

Depreciation Table for Common Business Assets

New rules to business expensing and deductions are in effect as a result of the Tax Cuts and Jobs Act. Use this depreciation table as a guide when making large purchases for your businesses to decide whether to take a Section 179 deduction or bonus depreciation in the current year or depreciating qualified property over … Continued →

12 Tax Deductions for the Self-Employed

Owning your own business means working to help make your own dreams come true, to further your passion and ambition and create a meaningful source of income. It’s also terribly stressful sometimes and comes with a lot of risks and liabilities. Whether you’re growing your business or maintaining the revenue you already have, the costs … Continued →

A Review of the Major Changes to Expensing and Depreciation Tax Rules

Last year, we gave readers an update on the expanded Section 179 deduction in the context of year-end tax planning. Business taxpayers have had some time now to implement the expanded deduction and deprecation benefits but may be missing some important details on what qualifies and what doesn’t. Below we outline the major changes to … Continued →

Claiming the R&D Tax Credit for Small Businesses and Startups

The Research and Development Tax Credit, commonly known as the R&D Tax Credit, has been around for decades to incentivize businesses to develop and invest in innovative products, processes, and more. What started out as a complicated tax credit that only large corporations could qualify for has shifted to a more accessible source of cash … Continued →