3 Tips for Tax Time

Tax time is here!  Here are three helpful hints to make tax time run smoother:

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IRS Links to Help Reduce 2011 taxes: Individuals and Small Businesses!

Here are a couple links to help reduce your 2011 taxes:

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Bigger Depreciation Deductions for Business Assets

As you probably know, the 2010 Tax Relief Act provided bigger depreciation deductions for business assets. In fact, under Section 179, businesses can expense up to $500,000 of depreciable business assets acquired during 2011, with any remaining basis fully deducted using the 100% bonus depreciation. Unfortunately, unfavorable depreciation rules apply to most passenger autos and light trucks used in business. For a vehicle acquired in 2011, depreciation deductions are generally limited to the following amounts:

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Year-end Tax Planning Letter

Hello Clients and Friends,

If you’re in need of tax planning, please call our office today to speak to any one of our accountants!  Read on for further tax planning ideas…

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