Tag Archives | tax cuts and jobs act business

lit up lightbulb with words Section 179

Now is Good Time to Buy Equipment & Other Depreciable Assets

The Section 179 depreciation deduction for business property gives businesses some good news. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And, it was increased and expanded by the Tax Cuts and Jobs Act (TCJA). Even better, […]

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Gregory M. Ward, CPA | Inventory Accounting Method Change Could Benefit Small Businesses | Dalby Wendland & Co. | CPAs | Business Advisors | Grand Junction CO | Glenwood Springs CO | Montrose CO

Inventory Accounting Method Change Could Benefit Small Businesses

Even with the new depreciation options and Qualified Business Income deduction available in the wake of recent tax reform, there are always circumstances where a taxpayer may require additional current year deductions. With the help of another element of the Tax Cuts and Jobs Act (TCJA) taking effect in 2018, certain small businesses currently accounting […]

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Buy or Lease Business Equipment

Life presents us with many choices: paper or plastic, chocolate or vanilla, regular or decaf. For businesses, a common conundrum is buy or lease. You’ve probably faced this decision when considering office space or a location for your company’s production facilities. But the buy or lease business equipment quandary also comes into play. Pride of […]

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man and woman having business lunch

Deducting Business Meal Expenses

In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these expenses? The rules changed for deducting business meal expenses under the Tax Cuts and Jobs Act (TCJA), But you can still claim […]

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hard hats and architect plans on a building site

Depreciation-Related Tax Breaks on Business Real Estate

Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But there are special depreciation-related tax breaks on business real estate available that allow deductions to be taken more quickly for certain real estate investments. […]

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