TITLE

CHAPTER 3: Writing Off Long-Term Business Assets

AUTHOR(S)
Daily, Frederick W.; Quinn, Jeffrey A.
PUB. DATE
November 2013
SOURCE
Tax Savvy for Small Business;Nov2013, p39
SOURCE TYPE
Book
DOC. TYPE
Article
ABSTRACT
The article discusses how to use the depreciation rules and Section 179 of the tax code to lower tax bill. The authors state that all expenditures for business fall into current expenses and capital expenses. They note that the accelerated or straight-line method can be used to depreciate long-term property and the entire cost of the asset is written off over time. They mention that Section 179 allows small business owners to currently deduct up to $500,000 of long-term business property.
ACCESSION #
91737440

 

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