Fust Charles Chambers on Facebook Fust Charles Chambers on LinkedIn Fust Charles Chambers on Twitter

7 Year-End Tax Planning Moves for Small Businesses

Thursday, November 8, 2018
Share

Business owners still have time to significantly reduce their tax bills for 2018. Here are seven year-end moves to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA).

  1. Claim 100% Bonus Depreciation for Asset Additions

Thanks to the TCJA, 100% first-year bonus depreciation is available for qualified new and used property that’s acquired and placed in service in calendar year 2018. That means your business might be able to write off the entire cost of some (or all) of your 2018 asset additions on this year’s return. READ MORE