In the midst of holiday parties and shopping for gifts, don’t forget to consider 2023 year-end tax planning strategies for your business. You still have time to take advantage of a few opportunities. Time deductions and income If…
The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation adjustments. And due to high inflation, the adjustments for 2023 were significant. Here are the…
If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal…
If you’re seeking opportunities to improve your company’s cash flow, consider a fixed asset or cost segregation study. Manufacturing is a capital-intensive industry, so it’s critical to ensure that fixed assets are classified properly to recover their…
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to: Acquire or create an intangible asset, Create…
Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits may be…
Does your manufacturing company need to acquire new equipment to meet demand? Fortunately, there’s a tax break that can help: the Section 179 deduction. It allows you to deduct this year the cost of qualifying new or…
What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property…
First-year bonus depreciation typically creates a powerful tax incentive for eligible manufacturers to purchase qualified property needed for business reasons. These tax write-offs can benefit a manufacturer’s cash flow, but claiming them isn’t always the best decision.…
Economic changes brought by the COVID-19 pandemic, along with other factors, drove historic global mergers and acquisitions (M&A) activity in 2021. Experts expect 2022 to be another busy year for dealmaking. In many cases, M&A opportunities arise…
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 taxes. You still have time to execute a few strategies. Purchase Assets Thinking about buying new or used equipment, machinery, or…
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports that 2021 is set to be the…
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