Lock up 7 fleeting tax breaks

October 2013
Small Business Tax Strategies;Oct2013, Vol. 8 Issue 10, p1
The article presents key tax breaks for small businesses in the U.S. in 2013. It mentions that the business can deduct qualified assets of up to $500,000 placed in service under the American Taxpayer Relief Act of 2012 (ATRA). It states that the current version of bonus depreciation permits a business to claim bonus depreciation deduction of 50% on top of other available tax breaks such as Section 179 for qualified assets.


Related Articles

  • Farm Tax Deduction Limits Raised. Pocock, John // National Hog Farmer Exclusive Insight;2/18/2011, p5 

    The article offers the insights of Roger McEowen, Iowa State University Center for Agricultural Law and Taxation's director, on tax relief received by farmers for machinery and equipment purchases. McEowen says that the expansion of the tax deduction to $500,000 and the introduction of 100%...

  • Two Certainties for Corn and Soybean Farmers: Taxes and Tax Questions. Pocock, John // Corn & Soybean Digest Exclusive Insight;2/ 8/2011, p3 

    The article reports on the biggest changes on the U.S. Section 179 tax deduction rule. It states that tax deduction could hit $500,000 for agricultural machinery and equipment purchases, while a 100% bonus depreciation for new assets will be introduced before January 1, 2012. It also mentions...

  • Sweeter tax incentives arrive just in time.  // American Agriculturist (0161-8237);Dec2010, Vol. 207 Issue 12, p8 

    The article reports on the 2010 tax deductions boosted by the Small Business Jobs and Credit Act for small business owners in the U.S.

  • Deductive Reasoning | New Tax Rules Allow More Write-offs for Farm Equipment Purchases. Pocock, John // Corn & Soybean Digest Exclusive Insight;3/ 9/2011, p8 

    The article focuses on the tax relief given to farmers for their purchases of machinery and equipment. Roger McEowen of the Iowa State University Center for Agricultural Law and Taxation mentions the expansion of the tax deduction to $500, 000and launch of the 100% bonus depreciation in new...

  • Back up deduction for used computer.  // Small Business Tax Strategies;Jan2015, Vol. 10 Issue 1, p5 

    The article reports on the advantage for small businesses to donate their used computers to charity to get a tax deduction for properties that will be discarded in the U.S.

  • Feeling the pinch: Changes to the 2013 tax law affect professionals and practices. Dennis-Escoffier, Shirley; Quintana, Olga; Ortiz, Cesar // MGMA Connection;Feb2014, Vol. 14 Issue 2, p24 

    The article focuses on the American Taxpayer Relief Act of 2012, which increased the rates of many small-business owners' tax. It says that the limits for equipment purchases expenses and bonus depreciation were extended through 2013. It adds that the legislation extends a certain tax provisions...

  • Small Business Tax Relief. Mills, Karen Gordon // Rock Products;Feb2013, Vol. 116 Issue 2, p18 

    The article discusses the U.S. Taxpayer Relief Act of 2012 and its benefits to small businesses. It states that there are 28 million small businesses in the U.S., and that this act includes extension of several tax incentives to enhance innovation, support capital investment, and hire new...

  • Multistate Taxation. Tatarowicz, Phil; Bertothy, Rebecca // Corporate Business Taxation Monthly;Dec2009, Vol. 11 Issue 3, p5 

    The article discusses the importance of multistate tax reform system, which known as business net receipts tax (BNRT), in the U.S. The author emphasized that the system is a replacement for the corporate income tax and state general fund sales tax and became an entity level tax to the small...

  • CHAPTER 3: Writing Off Long-Term Business Assets. Daily, Frederick // Tax Savvy for Small Business (9781413316407);11/ 1/2011, p37 

    The article discusses how small businesses in the U.S. may take advantage of the depreciation rules and Section 179 of the tax code to reduce their taxes. The two categories of business expenditures are compared which include current expenses and capital expenses. The description of Section 179...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics