Currently, a valuable income tax deduction related to real estate is for depreciation, but the depreciation period for such property is long and land itself isn’t depreciable. Whether real estate is occupied by your business or rented out, here’s how you can maximize your deductions.
Is business going so well that you’re thinking about adding another location? If this is the case, congratulations! But before you start planning the ribbon-cutting ceremony, take a step back and ask yourself some tough questions about whether a new location will grow your company — or stretch it too thin.
If your business offers health insurance benefits to employees, there’s a good chance you’ve seen a climb in premium costs in recent years — perhaps a dramatic one. To meet the challenge of rising costs, some employers are opting for a creative alternative to traditional health insurance known as “captive insurance.”
As the year draws to a close, we want to ensure that you're poised to take advantage of 2017 tax provisions and that you're aware of any updates that may affect your business taxes.
If you've been following the news out of Washington, you probably know that corporate tax reform is a real possibility, as is the passage of new tax breaks that would reduce tax rates on income generated by some pass-through businesses.