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Man Woman High Five

7 Tax-Smart Reasons to Hire Your Spouse

  • November 23, 2021
  • Tax

Many businesses are having trouble recruiting and retaining qualified workers today. Nearly 90% of employers reported difficulty filling open positions, according to a recent survey conducted by the Society for Human Resource Management. The report entitled, "The COVID-19 Labor Shortage:…

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Passing Car Keys From One Person To Another

How Fast Can You Write off a Business Vehicle?

  • November 15, 2021
  • Tax

The federal income tax rules for depreciating vehicles used for business are complicated. And different rules apply to different categories of vehicles. Special limitations apply to vehicles that are classified as passenger autos, including many pickups and SUVs. As a…

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Small Business

Tax Breaks Small Businesses Should Consider

  • September 27, 2021
  • Tax

It may seem premature, but it’s never too early to start tax planning for small businesses. Here are three tax breaks to consider. 1. Claim bonus depreciation or a Section 179 deduction for newly purchased assets Current tax law allows…

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Work Vehicles

Tax Depreciation Rules for Business Automobiles

  • September 20, 2021
  • Tax

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger autos (which include many pickups and SUVs)…

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