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Tax Tips Small Business
| Electing to Expense the Cost of Your Business Assets |
| Section 179 deduction limits increase The IRS allows taxpayers the option of either depreciating some assets over a specified number of years or deducting all or a portion of the cost in one year. The expense election, commonly referred to as the Section 179 deduction, is made in the year the asset is placed in service. The benefit is a large deduction in the current year that is not reduced even if the asset is placed in service late in the tax year. |
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Small Business Quick Tip
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| Direct Deposit of Your Tax Refund |
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More options are available to you The IRS is now allowing taxpayers who are due a tax refund the option of having that refund split up and deposited in up to three different bank accounts. This can include a retirement savings account such as an IRA. This option is available to you whether you file a paper return or electronically file your return. However, if you file your tax return electronically and opt for direct deposit, you can receive your refund in two weeks or less.
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Wednesday, 03 December 2008
Tax Tips Personal
| Direct Deposit of Your Tax Refund |
| More options are available to you The IRS is now allowing taxpayers who are due a tax refund the option of having that refund split up and deposited in up to three different bank accounts. |
| Read more... |
Personal Quick Tip
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