Q: In a recent article, you said the Section 179 equipment write-off is available for used SUVs. (See 10/20/03 issue.) When I was car shopping, I mentioned that to a few dealers, but they said the tax break was available only for new vehicles. Was your article correct? G.S., St. Paul, Minn.
Small Business Tax
Section 179 vehicles should be a key part of your small business tax deduction strategies. Can Section 179 property fit in with your business tax strategies?
Let Business Management Daily help you get each and every rental property depreciation credit and business tax deduction you’re entitled to.
Risk: By following your state law, in some ...
More reason to avoid tax protester groups.
Expect IRS to budge little on tax bill 'compromise.'
Q: I am a self-employed contractor and take in about $90,000 a year from my business. You said the new maximum expensing allowance is now $100,000, so can I write off the entire cost of a new $30,000 piece of equipment if I buy it in December? M.W., Lynbrook, N.Y.
Frequently, a divorcing couple can't agree on which of them should claim the dependency exemptions for the children. If you can't decide, the court will do it for you. And that could yield the worst possible result for you.
Benefit: Voluntary benefits let you beef up your benefits without much additional cost. ...