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Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future

Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future

by Capocore Professonal Advisors | Feb 26, 2018 | Small Business Tax

If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase planning, because the Tax Cuts and Jobs Act (TCJA),...
Claiming bonus depreciation on your 2017 tax return may be particularly beneficial

Claiming bonus depreciation on your 2017 tax return may be particularly beneficial

by Capocore Professonal Advisors | Feb 5, 2018 | Small Business Tax

With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances bonus depreciation. Typically,...
The TCJA temporarily expands bonus depreciation

The TCJA temporarily expands bonus depreciation

by Capocore Professonal Advisors | Jan 2, 2018 | Small Business Tax

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 TCJA provisions go into effect for the 2018 tax year, you might be able to benefit...
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Capocore Professional Advisors - 46 W. Shadbolt Ste A Lake Orion, Michigan 48362