Date: August, 20, 2012 / Author: Jennifer Anderson
Categories: Ask The Expert, Growth and Profit Tips
Are you in the market for a new office? New fixtures, equipment and decorations may fall within the Section 179 Deduction. New limits and a Bonus Depreciation just announced. Talk with your accountant to see if this could be your year to save!
Here's a partial list of equipment:
- Equipment/machines purchased for business
- Tangible personal property used in business
- Business vehicles with a gross vehicle weight in excess of 6,000 lbs
- Office furniture
What does this mean for you? Qualified purchases can be taken as full deduction on your 2012 tax return, but purchases must be made by Dec. 31, 2012. These saving can be used to give you a fabulous Barbara Wright Design.
To learn more about the tax code and see an example calculation visit:
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