Depreciation Rules on Buying a Car or Truck for Business Use in 2011

By |2011-08-30T21:02:47+00:00August 30th, 2011|Blog, Tax Preparation|

by Shelly Doerhoff, CPA You’re probably already aware that the IRS places annual limitations on the dollar amount of depreciation allowable on automobiles purchased and placed in service during the tax year. As inflation increases, the amount of this deduction must increase as well. For 2011, the first-year depreciation deduction limits are increased by  8,000—from

Tax Planning Can Save You CASH!

By |2010-11-17T17:15:15+00:00November 17th, 2010|Blog|

By Brent Taylor, CPA As 2010 is quickly coming to a close, it’s never too early to start tax planning for the coming 2011 tax year.  A good place to start is with your retirement investment strategy, and the Internal Revenue Service has recently announced its 2011 tax year cost of living adjustments affecting dollar

Money Saving Tax Moves

By |2010-07-12T19:06:46+00:00July 12th, 2010|Blog, Tax Preparation|

by Brent J. Taylor, CPA If you’re a shareholder in a closely held C Corporation, some of your tax rates related to your individual tax return are about to change starting in 2011.  If the company you are a shareholder in pays you a dividend this year, the maximum federal income tax rate will only