Bonus depreciation – The Burns Firm – Advisors of Complex Financial Matters

Take Advantage of Tax Breaks for Small Businesses

March 8th, 2022|Categories: Accounting, Burns Firm, Business, CPA, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, QBI, Services, Small Business, Tax, Tax Deductions, Tax Preparation, Tax Return, TCJA|Tags: 2022 tax breaks for business, Bonus depreciation, CPA Dallas, Dallas CPA, QBI deduction, Sec 179 depreciation deduction, Sec. 179 deductions, Sec. 179 limitations, tax, tax breaks for small businesses, tax preparer for business, The Burns Firm|

If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you [...]

Small Businesses: Cash In On Depreciation Tax Savers

December 17th, 2020|Categories: Accounting, Burns Firm, Business, C Corporation, Partnership, S Corporation, Services, Tax, Tax Planning|Tags: accounting firm in Dallas, Bonus depreciation, cash in on depreciation, CPA firm in Dallas, Dallas CPA, sec 179, small business depreciation, tax credits, tax firm in Dallas, tax firm in North Texas, tax firm near me, Tax planning, tax preparation, TCJA, The Burns Firm, who qualifies for Sec 179|

As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you [...]

The TCJA temporarily expands bonus depreciation

January 4th, 2018|Categories: Accounting, Burns Firm, Business, C Corporation, Exemptions, Law, Partnership, S Corporation, Sell Business, Selling a Business, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: Accounting, Assets, Bonus depreciation, deductions, Denis Burns, dependents, exemptions, IRA, IRS, qualified plan, tax, tax credits, tax preparation, tax return, The Burns Firm|

The Tax Cuts and Jobs Act (TCJA) enhances some tax breaks for businesses while reducing or eliminating others. One break it enhances — temporarily — is bonus depreciation. While most [...]