Business Tax Reminder

Posted on Tuesday, October 22, 2013

As year-end approaches, don't overlook this option to reduce your business taxes for 2013: accelerated write-offs for business asset purchases. For example, the Section 179 immediate expensing deduction lets you write off the cost of assets you purchase and place in service this year, including vehicles, equipment, and software. For 2013, the maximum Section 179 deduction is $500,000. Another example is the "bonus" depreciation deduction, which allows you to expense up to 50% of the cost of new assets, including those that might not qualify for Section 179.

Posted in Tax And Accounting Topics For Business

Disclaimer: The information contained in Dulin, Ward & DeWald’s blog is provided for general educational purposes only and should not be construed as financial or legal advice on any subject matter. Before taking any action based on this information, we strongly encourage you to consult competent legal, accounting or other professional advice about your specific situation. Questions on blog posts may be submitted to your DWD representative.

"DWD has provided annual audits and tax filings for Bowmar LLC since 2010.  Their accounting and tax knowledge has been valuable.  We have appreciated their willingness to dive deeply into…"

Bix Benson, Chairman

Bowmar, LLC