Archive: Section 179

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Renovations Placed in Service Provide Tax Deductions for Hospitality Business Owners

As 2019’s tax year begins to wind down, restaurant, hotel, and food distribution owners have the opportunity to take advantage of a variety of tax depreciation incentives. These tax deductions can be substantial if a business owner purchases a high quantity of fixed assets or a major buildout, or if a refurbishment project for their […]
December 13, 2019

New Equipment Yields Tax Savings

For medical practices interested in updating their equipment, office furnishings, or automobiles, 2018 may be an opportune time to make these changes as these investments can offer enhanced federal tax benefits. Provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) offer businesses a faster write-off of capital equipment costs through revised Section 179 […]
August 31, 2018

Luxury Car Rules: ‘How to Avoid Indulging in Luxury Car Limitations’

In the market for a new car and hoping to kill two birds with one stone? Taking the time to research the tax implications on both your personal and professional finances with the right vehicle purchase could land you long-term savings. However, not examining the tax code closely enough could leave you paying more than […]
May 18, 2016
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  • Aronson

PATH Act Provides Tax Breaks for 2015 and Beyond

When many were busy celebrating the holiday season, President Obama signed The Protecting Americans from Tax Hikes (PATH) Act of 2015 into law at the end of last month. This important legislation extends a number of tax breaks and makes many of them permanent. Below, we outline some of the more important changes effective after […]
January 12, 2016
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  • Aronson

Tax Incentives for Contractors – Fixed Asset Acquisitions

The recently enacted included a wide-ranging assortment of tax changes generally affecting business. Two of the most significant changes allow for faster cost recovery of business property.  These consisted of enhanced expensing under Section 179 and an extension of 50% bonus depreciation. The bonus depreciation provisions, however, quickly became outdated with the enactment of the […]
June 17, 2011
  • By:
  • Aronson