The Tax Increase Prevention Act of2014 revived 50% bonus depreciation for 2014 federal income tax returns. Bonus depreciation is available in addition to Section 179 expensing, and gives you the option of writing off up to 50% of the cost of certain new business assets. Unlike Section 179, you can claim bonus depreciation no matter the amount of your annual equipment purchases, as well as when your business reports a loss.
Small Business Accounting Services available
Bank Reconciliation – Protect yourself and your small business. Timely reconciling and objecting to your bank about unauthorized checks. Identify lost checks or deposits. Get a better idea how your business is doing with an accurate financial statement.
Income Statements– Track your revenue and expenses, Identify expenditures, Determine your tax liabilities.
Balance Sheets– Get a snapshot of the financial health of your business.
New business Start-up Consultations
You can benefit from our wide-ranging knowledge and expertise. Contact us today and learn more about our unique capabilities.
Edith Christian CPA
N9 W29360 Thames Road
Waukesha, WI 53188