Making business improvements before year-end may get you a bonus

Let’s talk bonus depreciation. It’s time for year-end tax planning, and under the Tax Cuts and Jobs Act, qualified new and used property that is acquired and placed in service in your business in 2019 is eligible for 100 percent first-year bonus depreciation. In other words, if you have been thinking about purchasing some equipment […]

Qualified Opportunity Fund is a worthy option for investing capital gains

The business landscape is ever evolving as many owners are selling their businesses or restaurants or retiring. The upside is these business owners are often realizing a significant return on their life’s investment. The downside is a large capital gains tax bill is looming on the horizon. There is an option that can provide a […]

The good and not-so-good news about qualified improvement property

If you made improvements to your commercial property last year or are planning to this coming year, there’s good news and not-so-good news. The good news is, some of the restrictions for taking the depreciation on those improvements have been eliminated under the 2017 Tax Cuts and Jobs Act. Prior to the new tax law, […]

Go green: Save tax by saving energy at home

“Going green” at home — whether it’s your principal residence or a second home — can reduce your tax bill in addition to your energy bill, all while helping the environment, too. The catch is that, to reap all three benefits, you need to buy and install certain types of renewable energy equipment in the […]