The IRS has published depreciation limits for business vehicles first placed in service this year. Because 50% bonus depreciation is allowed only for new vehicles, these limits are different for new and used vehicles. * For new business cars, the first-year limit is $11,160; for used cars, it’s $3,160. After year one, the limits are [...]
Taking a trip without a map may get you lost, and trying to run a business without a plan is likely to have the same result. Read more. A business plan is a map, your company’s written guide into the future. Not only does a good plan let you know where you are and where [...]
Employee theft happens more frequently than you hear or read about. It’s believed that only a small percentage of cases of employee dishonesty are reported and prosecuted. Too often, the employee is just dismissed and moves on to steal from someone else. In other cases, especially where financial controls are weak, the employee may steal [...]
Under the “Tax Relief Act of 2010,” you may be able to write off the entire cost of business property placed in service this year, thanks to 100% “bonus depreciation.” Prior to this law, a business was able to claim 50% bonus depreciation on qualified new (but not used) property placed in service in [...]
When was the last time you reviewed your insurance coverage? An annual insurance review makes good financial sense. Read more. When was the last time you reviewed your insurance coverage? An annual insurance review makes good financial sense. Here are points to consider as you review your various insurance policies. Health care. If you have [...]
Check out the six ways even a small business can “go green.” Read more. We see, hear, and read every day that the world is becoming more environmentally conscious and taking steps to “go green.” While many of these may be out of reach for smaller businesses, there are several things that even small businesses [...]
The last thing most people think about when starting a business is doing taxes. But proper planning will make doing your taxes much easier – and keep the IRS happy! Here are 3 simple tips for keeping proper records: Whenever you buy anything for your business, keep the receipt! Not only will this make record [...]