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ake Advantage of Business Equipment Tax Incentives for 2016

Source: accountingweb.com - Nov 11, 2016

Do you need to replace outmoded or worn-down equipment used in your small business? Thanks to the Protecting Americans from Tax Hikes (PATH) Act, which was signed into law late last year, you may be entitled to double-barreled tax relief.
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However, to ensure that you qualify for the tax benefits on your 2016 return, you must place the equipment in service before the end of the year.

The two key tax breaks for depreciable business property are the Code Section 179 allowance and the bonus depreciation deduction.

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Category: General Business