Whether youโre brand new to accounting, tax, & payroll or youโve done it your whole life, the recent law changes in the last few years have dramatically changed the landscape for both individuals and businesses. Asking questions, both to confirm old rules no longer exist and to understand the new ones, puts everyone on the same page.
It depends. The IRS has many rules related to Section 179 and Bonus Depreciation that considers the vehicle’s condition, usage, weight and more. Even if you can, it may not be in your best interest to do so. If financed, you wonโt have depreciation in future years to offset the debt payments, creating a potential cash flow issue we should discuss.
โ Gary Haworth
11232 86th Avenue N
Maple Grove, MN 55369
Phone: (763) 425 2185
Fax: (763) 425 5621
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We love all of the details and strategies in the world of tax and accounting, but weโre guessing you donโt. Between the tens of thousands of pages of tax law, differing laws by state, and sweeping legislation that rewrites it all, there is a lot small business owners need to keep up to date on. Offload that stress to the experts and go back to running the business youโre passionate about.
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As a full-service tax office, learn how we not only prepare returns, but help clients plan ahead.