by mariettacp | Nov 26, 2010 | Money Tips, Tax Planning, Tax Tips
To help reduce your tax liability, you can make expenses qualifying for the $500,000 business property expensing option. The maximum amount you can expense for a tax year beginning in 2010 is $500,000 of the cost of qualifying property placed in service for that tax...
by mariettacp | Nov 26, 2010 | Money Tips, Tax Planning, Tax Preparation
New classifications for business property and limitations of reporting penalties can simplify and encourage record keeping. Cell phones no longer listed property. This means that cell phones can be deducted or depreciated like other business property, without onerous...